SBI Mudra / e-Mudra Loan eligibility details & How to apply

SBI offers Mudra / e-Mudra Loan to the individual and MSME (micro, small and medium enterprises) for new set up or expansion of business / profession.

Deduction on Interest (Section 80TTA) & (80TTB Senior Citizens)

Section 80TTA and section 80TTB are the two sections of income tax which bring huge benefits in the form of tax savings. If you are earning interest income from deposit acc…

Section 80E – Deduction of Interest Payment on Education Loan

Section 80E of the income tax act 1961 provides deduction of interest paid on education loans.

Section 89 (1) & Form 10E for Tax Relief on Arrears of Salary

Section 89 (1) of Income Tax Act provides some tax relief on arrears of salary. Basically section 89(1) introduced to resolve the issue of paying higher tax in the year in w…

Section 80GG: Eligible Deduction for Rent Paid

Section 80GG of Income Tax Act provides tax saving in the form of “ deduction for rent paid ” from gross total income if a person is residing in a rental house and paying th…

Section 115JB – Minimum Alternate Tax (MAT) in India

Section 115JB of Income Tax Act introduced for companies to resolve the problem of huge difference in profits shown in books of Accounts and profit for Income Tax Purpose.

Section 115BBE (Taxability of Undisclosed / Unexplained Income)

Section 115BBE of Income Tax Act covers all undisclosed / unexplained income on which tax is not paid, which if found by the Assessing officer then he may treat such income …

Section 206AA - Higher TDS Rate for Non-submission of PAN

Section 206AA of Income Tax Act sets the Higher Tax Rate (TDS) for a person (whether resident and non-resident ), who receives taxable amount without furnishing PAN to payer…

Interest under Section 234A, 234B and 234C on Advance Tax

Section 234A, 234B and 234C of Income Tax Act apply for interest charged on default of payment of advance tax.

Section 111A, 112A and 112 on LTCG and STCG

Section 111A, 112A and 112 of Income Tax Act apply for tax rates on: Transfer / sale of shares, debentures, bonds, Units of mutual funds, units of business trust, Immovable …

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