Income Tax Benefits on Various Plans of LIC for FY 2015-16 IMPORTANT INCOME TAX BENEFITS AVAILABLE UNDER VARIOUS PLANS OF LIFE INSURANCE FOR ASSESSMENT YEAR 2016-17/FINANCIAL YEAR 2015-16 1) Deduction allowable from Income for payment of Life Insurance Premium (Sec. 80C). (a) Life Insurance premia paid in order to effect or to keep in force […]
Category Archives: Income Tax
Income Tax is the tax which directly levy on income of any personal.Central Board of Direct tax manage all the things related Direct Tax.
How to Open NPS Account Online and Tax Benefits ? Guidelines for Online Registration NPS Trust welcomes you to ‘eNPS’ ,which will facilitate:- ➤ Opening of Individual Pension Account under NPS (only Tier I / Tier I & Tier II) ➤ Making initial and subsequent contribution to your Tier I as well as Tier II […]
Tips to improve your CIBIL score Your CIBIL score is a three digit number, in the range 300-900. In today’s date this number has assumed immense significance with banks unwilling to lend to anyone who does not have a score above 750. It is a good financial practice for you to make a constant effort […]
Trust Registration and Tax Rate – Income Tax Trust formed for charitable or religious purposes which are not intended to do commercial activities are allowed various benefits under the Income-Tax Act, inter-alia, exemption under section 11. The term religious purpose is not defined under the Income-Tax Act. However, Section 2(15) of the Act defines “charitable […]
Disallowance of bad debts in case of running account with the party is justified Citation of the Case:- Amar Enterprise vs. ITO (ITAT Ahmedabad), Income tax (Appeal) no. 2520 of 2011, Date of Judgment: 05/06/2015 Brief of the Case ITAT Ahmedabad held In the case of Amar Enterprise vs. ITO that in the present case, […]