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Tax Benefits on Health Insurance

Under section 80DDB, any resident individual or HUF can claim deductions on the expenses that are incurred on the treatment of specified diseases. If the deduction is claimed for an individual/HUF member who is below 60 years than INR 40,000 is the … See more

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Medical Reimbursement : Exemption & Claim

WebHey @Dia_malhotra, there are many deductions that you can avail of.Your salary package may include different allowances like House Rent Allowance (HRA), …

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List of Income Tax Declaration Proofs

WebMedical Health Insurance for self, spouse, and children. Proofs: Mediclaim policy copy or Copy of Premium receipt, Health- Checkup receipts. Deduction Limit: INR …

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Income from Business and Profession

WebAny income earned by a taxpayer with an intention to earn a profit is covered under the head business and profession. There are 3 types defined for …

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Dearness Allowance (DA): Rules, Exemptions, and Calculations

WebMedical allowance is exempt up to INR 15,000 on a reimbursement basis. Children education allowance is exempt up to Rs. 200 per child per month up to a …

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Nature of Business and Profession Codes

WebHunting, trapping and game propagation services. 01012. Growing of timber, plantation, operation of tree nurseries and conserving of forest. 01013. Gathering of …

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Deductions under Chapter VI A

WebTaxpayers cannot avail of deduction under Chapter VI A exceeding their gross total income. For example: Kamal’s gross total income is INR 4 lakh and his total …

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What are the tax benefits of forming an HUF

WebChildren education allowance is exempt up to Rs. 200 per child per month up to a maximum of two children. Conveyance allowance is exempt up to a maximum of Rs. …

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Section 80D: Deduction for Medical Insurance Premium

WebIn budget 2018, the finance minister increased the limit of deduction available to senior citizens from INR 30,000 to 50,000. And within the overall limit, medical …

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ESI : Employees State Insurance

WebLearn by Quicko – 6 May 21. Employees' State Insurance Corporation or ESIC, is a multidimensional social system tailored to provide socio-economic protection to workers. …

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Download Form 16 (Part A and Part B) from TRACES

Web1. Click on TRACES PDF Converter 1.4L to download utility for Part A of Form 16 2. Click on TRACES PDF Converter 1.1L to download utility for Part B You will …

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ESIC : Registration, Benefits, and Process

WebWhat is ESIC? ESIC or Employees State Insurance Corporation is a statutory corporate body set up under the ESIC Act 1948 which provides financial coverage to …

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Income Tax Rebate u/s 87A

WebRebate under section 87A of the Income Tax Act helps taxpayers to reduce their tax liability. Resident individuals with a net taxable income less than or equal to INR …

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Section 36 of Income Tax Act, 1961

WebIncome Tax. Section 36. Section 36 of the Income Tax Act deals with the list of specific expenses which are allowed for the purpose of computation of income chargeable to tax …

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TRACES : Register Digital Signature Certificate

WebTRACES means TDS Reconciliation Analysis and Correction Enabling System. It is the online portal for administration and implementation of TDS (Tax …

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Difference Between Old vs New Tax Regime

WebUnder the New Regime, new tax slabs were introduced with existing rates which are slashed on income up to INR 15 Lakh. The tax slab rates as per the ‘New …

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Income Tax Refund: Eligibility, Procedure and Interest

WebOnce you have filed your income tax return, you need to wait for an assessment from the Income Tax Department. Here is what you need to do: You will …

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Meeting Minutes: Share Transfer

WebTransfer of shares means the voluntary handing over of the rights and possibly, the duties of a member (as represented in a share of the company) from a …

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