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80EEA vs. Section 24(b) Additional Home Loan Interest Deduction: ₹1.5 Lakh Rules and Eligibility Explained
Key Points Section 80EEA of the Income Tax Act provides an additional tax deduction of up to ₹1,50,000 (₹1.5 Lakhs) per financial year for home loan interest paid by first-time...
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Section 80G vs. Section 80GGA vs. Section 80GGC Donation Tax Deductions: 100% Exemption Rules, Cash Limits and Form 10BE Guide Explained
Key Points The Income Tax Act provides three distinct deduction sections for donations: Section 80G (charitab…
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Leave Travel Allowance (LTA) Tax Exemption: Section 10(5) Rules, 4-Year Block Period (2026–2029), Domestic Travel Limits and Airfare Proofs Explained
Key Points Leave Travel Allowance (LTA) received from an employer is eligible for income tax exemption under …
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Standard Deduction for Salaried Employees: ₹75,000 New Regime Rules, Eligibility and Tax Impact Explained
Key Points The standard deduction for salaried employees and pensioners under the New Tax Regime is enhanced …
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HRA Exemption Calculation Rules: Section 10(13A) Metro vs Non-Metro with Practical Examples
Key Points House Rent Allowance (HRA) exemption under Section 10(13A) of the Income Tax Act is calculated as …
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Form 16 Part A and Part B Explained: How to Read, Verify and File Your ITR with Form 16
Key Points Form 16 is a statutory certificate issued by employers under Section 203 of the Income Tax Act, ce…
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Section 80CCD(1B) vs. 80CCD(2) NPS Tax Deductions: Rules, Limits and Tax Savings Explained
Key Points Section 80CCD(2) allows a tax deduction on employer contributions to your National Pension System …
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