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Latest News
Important RBI Annoncement to customers on Alterations in the Cheques w.e.f. 01.07.2010.
I-T DEPT TO SET UP SPECIAL COUNTERS FOR TAXPAYERS TO RECEIVE I-T RETURNS ON 31ST JULY (SATURDAY)
Jeevan Akshay-VI Plan of the L I C of India,eligible for 80C deduction of the Income Tax Act,1961.
From 1st April 2010. Tax at higher of the prescribed rate or 20% will be deducted on all transaction
Liable to TDS, where the Permanent Account Number (PAN) of the deductee is not available.
Perks tax rules replace FBT:Employees will have to pay taxes on perquisites given by their employer
Cost Inflation Index for FY 2009-10 for LTCG has been announced as 632
1)
80 T
[OMITTED BY THE FINANCE ACT, 1987, W.E.F. 1-4-1988]
2)
80 U -
Deduction in case of a person with disability
3)
80 E -
Deduction in respect of interest on loan taken for higher education
4)
80 JJAA -
Deduction in respect of employment of new workmen
5)
80 JJA -
Deduction in respect of profits and gains from business of collecting and processing of bio-degradable waste
6)
80 IB -
Deduction in respect of profits and gains from certain industrial undertakings other than infrastructure development undertakings
7)
80 IA -
Deductions in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructure development, etc.
8)
80 GGA
Deduction in respect of certain donations for scientific research or rural development
9)
80 GG -
Deductions in respect of rents paid
10)
80 G -
Deduction in respect of donations to certain funds, charitable institutions, etc.
11)
80 E -
Deduction in respect of interest on loan taken for higher education
12)
80 DDB -
Deduction in respect of medical treatment, etc.
13)
80 DD -
Deduction in respect of maintenance including medical treatment of a dependent who is a person with disability
14)
80 D -
Deduction in respect of medical insurance premia
15)
80 CCC -
Deduction in respect of contribution to certain pension funds
16)
80 C -
Deduction in respect of life insurance premia, deferred annuity, contributions to provident fund, subscription to certain equity shares or debentures, etc.
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