Deductions under Section 80C to Section 80U are covered under Chapter VIA of the Income Tax Act. The quantum of the deduction varies from Section to Section and type of person. Exemptions …
A Quick Look at Deductions under Section 80C to Section 80U Read More »
As per the provisions of the Income Tax Act, the tax on prize money is levied on its winner. Further, the prizes earned by the person are shown under the …
Do you know about the Tax on Prize Money in India? Read More »
Section 80U is a deduction meant for the disabled person. This section provides a flat deduction on the gross total income of the individual on the basis of severity of disability of the disabled person. Further, this deduction is not dependent on the amount of the expenditure.