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Income Tax Deductions

Excellent commerce point > Income Tax Deductions
Basic Concepts of Income Tax Act
08
Oct

Basic Concepts of Income Tax Act Question 1.Write short note on Explain the term ax planning and tax evasion” (Dec 2021, 3 marks)Answer:Tax planning: Tax planning is a way to reduce tax liability by taking full advantages provided by the Act through various exemptions, deductions, rebates & relief. In other words, it is a way […]

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Tags: basic concepts of income tax , business income tax , Income Tax Act , Income Tax Act basics , Income Tax Deductions , income tax liabilities , income tax rules , tax act for individuals , tax calculation process , tax classification , tax exemptions , tax provisions , understanding income tax ,
Deductions from Gross Total Income​
16
Jun

Deductions from Gross Total Income Question 1.Answer the following with regard to the provisions of the Income-tax Act, 1961 :Briefly explain provisions of section 80U of the Income-tax Act, 1961, in respect of deduction available on permanent physical disability [Nov. 2008, 4 Marks]Answer: Section Explanation 80U Deduction from Gross Total Income under section 80U is […]

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Tags: CA Exam Prep , CA Foundation Taxation , CMA Exam Study , CMA Foundation Income Tax , Deductions from Gross Total Income , Gross Total Income , Income Tax Act , Income Tax Deductions , Section 80C to 80U , Tax Saving Provisions ,