Reimbursements

We all have known that the India’s major income tax comes from the service sector employees who have been paying those taxes directly to the governments. So, Trutax would like …

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Exemption sec 10 CEA

To improve the literacy rate in the country, the government of India has launched number of tax exemptions that allows citizens of the country to reduce taxes on their incomes. …

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Deduction 80TTA

The Section 80TTA gives a derivation of Rs 10,000 on interest monetary benefit to a private and hindu unified family. underneath this segment the derivation is permitted on revenue achieved …

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Deduction 80D

Spending money for your health is the biggest investment in 2020, & COVID-19 made it almost compulsory to focus on it. But government of India has been promoting it since …

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Deduction 80C

Clause 80C of the Income Tax Act of India is a provison that focuses to different consumptions and investments that are excluded from Income Tax. It takes into account a …

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What is PAN Card

Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued in the form of a laminated tamper proof card, by the Income Tax Department of India. While many of us …

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New Provision Of Income Tax

Prime Minister’s announcement of 13th August 2020 comprises of reforms in respect of following four broad areas of work of Income Tax department: 1. Faceless Assessment Scheme, 2. Expansion of …

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New introduced Income Tax scrutiny criteria

Guidelines for compulsory selection of returns for Complete Scrutiny during the Financial Year 2020-21 —conduct of assessment proceedings in such cases – regarding. – Cases pertaining to survey u/s 133A …

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