खुद रहने के लिए घर का इस्तेमाल कर रहे हैं तो टैक्स के इन नियमों को जान लीजिएअगर आप घर के मालिक हैं तो आपको इसकी जानकारी इनकम टैक्स रिटर्न में देनी पड़ेगी, भले ही आप इस घर में खुद रह रहे हों या किराया पर दिया हो.हाउस प्रॉपर्टी से इनकम को अलग मद में

Deductions is respect of rents paid : Under Section 80GG, an Individual can claim deduction for the rent paid even if he don’t get HRA. Not many people are aware of this deduction.Section 80GG allows the Individuals to a deduction in respect of house rent paid by him for his own residence. Such deduction is

Understanding Section 80G: Tax Deductions for Donations towards social causesHave you ever donated funds for charity or social purposes? Or, have you made contributions towards any National Relief Fund? If your answer is yes, then you could utilize these donations to gain Income Tax benefits. The Income Tax Act, 1961 encourages charitable deeds and thus

Tax Benefit on Home Loan: Section 24, 80EEA & 80 CThe repayment of Home Loan comprises of 2 components i.e. Repayment of Principal and Repayment of Interest. As the repayment comprises of 2 different components, the tax benefit on home loan is governed by different sections of the Income Tax Act and these are claimed

Scholarship exemptionSection 10(16) | Income Tax Act 1961Section 10(16) of the Income Tax Act provides an exemption towards the scholarship granted to meet the cost of education. The present article provides a briefing of the exemption available under section 10(16).Understanding the provisions of section 10(16)–In simple terms, ‘scholarship’ means a grant, achieved on the basis

Income Tax on Gifts: Exemptions and computationReceiving Gift indeed brings a cheerful smile on the face of the receiver, but if receiver gets to know that he has to pay tax thereon, the smiling face may turn sad.Although Gift Tax Act has been abolished, however there are certain provisions in the Income Tax Act, which