Deductions
The government encourages people to save and invest by offering deductions that reduce taxable income. These deductions help promote sectors like housing, e...
Fri, 25 Oct, 2024 at 5:56 PM
You can claim a deduction on the interest paid towards an electric vehicle (EV) loan under Section 80EEB. This deduction is specifically for people who take...
Fri, 25 Oct, 2024 at 5:18 PM
Buying a home is a major financial goal for many. It often involves taking a home loan. A home loan is a long-term debt but comes with several tax benefits ...
Fri, 25 Oct, 2024 at 5:52 PM
You can claim a deduction on the rent you pay for your accommodation under the old tax regime. This benefit is only for individuals who don't receive a ...
Fri, 25 Oct, 2024 at 5:17 PM
Retirement planning is an important aspect of achieving financial security by the time you grow old. NPS or National Pension Scheme is a retirement savings ...
Fri, 25 Oct, 2024 at 5:20 PM
In India, people contribute to political parties to show support for the values and policies they believe in. These contributions help fund campaigns and pr...
Fri, 25 Oct, 2024 at 5:25 PM
Section 80TTA provides a deduction on interest earned from savings accounts with banks, post offices, or cooperative societies. Note that it only applies to...
Fri, 25 Oct, 2024 at 5:35 PM
An education loan deduction is a tax incentive given to people who avail of loans for higher studies. This deduction is available only on the interest amoun...
Fri, 25 Oct, 2024 at 5:32 PM
Royalty income is earned when someone pays to use something you own, like intellectual property or patents. Authors and patent holders can claim deductions ...
Fri, 25 Oct, 2024 at 5:37 PM
A donation is a way to support charity, cause, or for disaster relief. These contributions help NGOs work toward a better India. The Income Tax Department a...
Fri, 25 Oct, 2024 at 5:40 PM