WebAny person, being a buyer who is responsible for paying any sum to Seller for purchase of any goods of the value or aggregate of such value exceeding fifty lakh rupees in any previous year, shall, at the time of credit of such sum to the account of the seller or at the time of payment thereof by any mode, whichever is earlier, deduct an amount equal to … Web25. jun 2014. · Income Tax Department through Circular No. 648, dated 30-03-1993, has allowed ad hoc deduction to agents of LIC on commission Income received during the …
Old or New Tax Regime? 10 tips to choose which tax regime suits …
Web02. feb 2024. · Contribution to annuity plan of LIC (Life Insurance Corporation of India) or any other Life Insurance Company for receiving pension from the fund is considered for tax benefit. The maximum allowable Tax deduction under this section is Rs 1.5 Lakh. ... Great post with some interesting ideas on income tax deduction. Thanks. Reply. Raja says: … Web09. apr 2024. · GST of 18 per cent is charged on the premium paid for health insurance, as per the prevailing regulations. Tax benefit can be claimed under section 80D of the … gourmethal tilburg
Term Insurance Tax Benefit Under Section 80C & 80D - Canara …
WebThe VLF calculator for tax purposes may assist you in determining the VLF paid in a specific tax year. Learn more about VLF . Vehicle Information. License Plate *. Enter 2-7 … Web08. nov 2016. · You may be aware that life insurance premium up to a maximum of Rs. 1.5 lakh per financial year is eligible for tax deduction under Section 80C1 of the Income Tax Act, 1961. But this deduction is available only on the premium paid by you in every financial year for life insurance purchased for yourself, your spouse and children. Web10. apr 2024. · 1) If you have income upto Rs 7 lakh then the new tax regime is better, as there is no tax upto Rs 7 lakh and additionally there is a standard deduction of Rs 50,000 in the new tax regime. 2) If ... gourmethobel tcm