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Tax Deduction

NBFC submits PAN of Parties from whom it claimed Bad Debts: ITAT upholds Income Tax Deduction [Read Order]

In a recent ruling, the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has upheld the income tax deduction on bad debts of a registered...

Regd. Seller cannot be Denied Tax Deduction because Regd. Dealer Stole ST-15 Forms: Punjab & Haryana...

‘Act of God’ Beats ‘Act of Law’: ITAT Cites Kerala Floods as Valid Reason for Belated ITR, Kozhikode...

ITAT Gives Rural Trust Second Shot at 80G Tax Benefits After Portal Confusion [Read Order]

May 2025 Income Tax Compliance Calendar: Key Dates and Deadlines

Section 80JJAA: Know All About Employment Generation Deduction

Introduction The Income Tax Act, 1961, has long incorporated provisions designed not merely to collect revenue but to advance broader policy objectives. Among these, Section 80JJAA has served as a...

Section 80JJAA - Employment Generation Incentives - Employment - taxscan

ITAT disallows Tax Deduction claimed u/s 35(1)(ii) for Donation to Unapproved Scientific Research Trust [Read Order]

In a recent judgment, the Ahmedabad bench of the Income Tax Appellate Authority (ITAT) set aside the deduction claim of an assessee for the donation made by him to an unapproved scientific authority....

Section 80GGC Income Tax Deduction: Detailed Explanation

Donating to political parties is a common practice in India, particularly among salaried individuals and businesses. Today, let’s understand Section 80GGC of the Income Tax Act, which provides tax...

How are Cryptocurrencies Taxed in India?

1Q: What are digital assets? A: Digital assets include cryptocurrencies, non-fungible tokens ( NFTs ), tokenized digital securities, and any other assets stored in a digital or blockchain...

Cryptocurrency taxation in India - Tax for Cryptocurrency - Cryptocurrency tax updates - taxscan

PAN 2.0 Project Decoded: All that You as Citizens, Business Owners and Tax Professionals Need to Know

In a world where digital transformation is the buzzword, the Indian Income Tax Department has taken a significant step with the PAN 2.0 Project. Approved by the Cabinet Committee on Economic Affairs...

PAN 2.0 - Business Owners - Tax Professionals - taxscan

How to Save Tax with Health and Life Insurance Policies?

Health and life insurance offer much-needed respite during an emergency and help save on taxes and attain financial goals. Due to this dual benefit, they are preferred over regular tax-saving...

How - Save Tax - Health - Life Insurance Policies - taxscan

ITR Filing 2024: Paying Interest on Educational Loan? Here's How you can Claim Income Tax Deduction

Introduction If you've been paying interest on an educational loan in the tax year 2024-2025, you can benefit from tax deductions under Section 80E of the Income Tax Act. In India, higher...