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Tax Benefits on Health Insurance

Under section 80DDB, any resident individual or HUF can claim deductions on the expenses that are incurred on the treatment of … See more

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URL: https://learn.quicko.com/tax-benefits-on-health-insurance

List of Income Tax Declaration Proofs

WebMedical Health Insurance for self, spouse, and children. Proofs: Mediclaim policy copy or Copy of Premium receipt, Health- Checkup receipts. Deduction Limit: INR …

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Income from Business and Profession

WebAny income earned by a taxpayer with an intention to earn a profit is covered under the head business and profession. There are 3 types defined for …

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Medical Reimbursement : Exemption & Claim

WebMedical allowance is exempt up to INR 15,000 on a reimbursement basis. Children education allowance is exempt up to Rs. 200 per child per month up to a …

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ESI : Employees State Insurance

WebLearn by Quicko – 6 May 21. Employees' State Insurance Corporation or ESIC, is a multidimensional social system tailored to provide socio-economic protection to workers. …

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Dearness Allowance (DA): Rules, Exemptions, and …

WebHey @Dia_malhotra, there are many deductions that you can avail of.Your salary package may include different allowances like House Rent Allowance (HRA), …

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What are the tax benefits of forming an HUF

WebChildren education allowance is exempt up to Rs. 200 per child per month up to a maximum of two children. Conveyance allowance is exempt up to a maximum of Rs. …

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Section 80D: Deduction for Medical Insurance Premium

WebIn budget 2018, the finance minister increased the limit of deduction available to senior citizens from INR 30,000 to 50,000. And within the overall limit, medical …

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Deductions under Chapter VI A

WebTaxpayers cannot avail of deduction under Chapter VI A exceeding their gross total income. For example: Kamal’s gross total income is INR 4 lakh and his total …

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Tax Benefits for Senior and Super Senior Citizens

WebHey @sushil_verma. There are a wide range of deductions that you can claim. Apart from Section 80C tax deductions, you could claim deductions up to INR 25,000 …

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Income Tax Slabs and Rates

Web10%. INR 10,000 to INR 20,000. 20%. Above INR 20,000. 30%. Cess: An additional 4% Health and Educational Cess will be applicable to the tax amount …

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TRACES : Register Digital Signature Certificate

WebTRACES means TDS Reconciliation Analysis and Correction Enabling System. It is the online portal for administration and implementation of TDS (Tax …

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Download Form 16 (Part A and Part B) from TRACES

Web1. Click on TRACES PDF Converter 1.4L to download utility for Part A of Form 16 2. Click on TRACES PDF Converter 1.1L to download utility for Part B You will …

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Nature of Business and Profession Codes

WebHunting, trapping and game propagation services. 01012. Growing of timber, plantation, operation of tree nurseries and conserving of forest. 01013. Gathering of …

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Form 12BB Investment Declaration

WebForm 12BB (Investment Declaration) is an essential document for a salaried person. It is basically a disclosure of all their tax-saving investments in that particular …

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TDS under section 195 of Income Tax Act

WebTDS. TDS Sections. Last updated on February 3rd, 2023. Section 195 of the Income Tax Act is applicable to all Non-residents or Foreign companies whose income …

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Difference Between Old vs New Tax Regime

WebUnder the New Regime, new tax slabs were introduced with existing rates which are slashed on income up to INR 15 Lakh. The tax slab rates as per the ‘New …

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Income Tax Refund: Eligibility, Procedure and Interest

WebOnce you have filed your income tax return, you need to wait for an assessment from the Income Tax Department. Here is what you need to do: You will …

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