Individuals and HUFs can claim income tax deductions on certain investments and expenses taken during the financial year to reduce taxable income.
Steps to add deductions on Quicko
- In the Filing tab, navigate to deductions > Add Deductions
- Enter the deductions applicable to you by tapping on Add Deductions
The preview of the deductions displays:
1. Deduction amount entered
2. Eligible amount of deduction a user gets as per Income Tax rules.
1. Ensure you have sufficient proofs of the deductions to claim them.
2. If deductions not available in Form 16 as Form 12BB is not submitted to the employer by the employee or any other reason on Quicko, add them manually.
List of Deductions can be entered:
1. Popular Deductions
2. Other Deductions
Read more about Tax Savings & Deductions.