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Deductions allowable to tax payer14459 ​ Income-tax Act provides certain deductions to compute the actual taxable income. The nature of deductions from total income is different for each category of income. The document will provide a list of all deductions available to different categories of taxpayers for different categories of incomes and the conditions thereof. 7/2/2022 6:28:38 AMSection Nature of deduction Who can claim 3.  Deduction shall be allowed under section 32AD in addition to deduction under section 32AC if assessee fulfils the 109063https://www.incometaxindia.gov.in/Charts Tables/Forms/AllItems.aspxhtmlFalsehtmCharts & Tables26b89a4f-398f-430e-bccf-2f9843f0620c33a70a4758-4931-403d-8a28-e1255b78386dhttps://www.incometaxindia.gov.in
​ Treatment of income from different sources 4194719/22/2022 3:13:32 PMe)  Where deduction has been allowed under this section, no deduction shall be allowed in respect of such Aggregate Deduction for interest on borrowed capital is allowed up to Rs 2610https://www.incometaxindia.gov.in/Documents/Left MenuhtmlFalsehtmOthers6da74bef-4aea-484a-a870-02587928d7dc416a70a4758-4931-403d-8a28-e1255b78386dhttps://www.incometaxindia.gov.in
​ Treatment of income from different sources 4197239/22/2022 6:12:44 AMAny income which is not chargeable to tax under any other heads of income and which is not to be excluded from the total income shall be chargeable to tax as residuary income 25640https://www.incometaxindia.gov.in/Documents/Left MenuhtmlFalsehtmOthers6da74bef-4aea-484a-a870-02587928d7dc431a70a4758-4931-403d-8a28-e1255b78386dhttps://www.incometaxindia.gov.in
Deductions allowable to tax payer4197249/22/2022 6:12:44 AM1.  Deduction is limited to whole of the amount paid or deposited subject to a maximum of any time during the previous year, but the deduction shall be available on so much of the 2687https://www.incometaxindia.gov.in/Documents/Left MenuhtmlFalsehtmOthers6da74bef-4aea-484a-a870-02587928d7dc399a70a4758-4931-403d-8a28-e1255b78386dhttps://www.incometaxindia.gov.in
Deductions for services rendered4182947/2/2022 5:15:43 AMof employment or otherwise, and such deduction shall not exceed an amount equivalent to it in this behalf make the  deductions authorised under clause (dd) of sub-section (2 80https://www.incometaxindia.gov.in/Acts/Payment of Wages Act, 1936htmlFalsehtmActPayment of Wages Act, 193611EMPTYEMPTY13896cd1-2b32-4ec2-8593-d8603ef8120d27380a70a4758-4931-403d-8a28-e1255b78386dhttps://www.incometaxindia.gov.in
Finance Minister’s Budget announcement – phasing out plan of deductions under the Income-tax Act4012011/20/2015 11:16:35 AMIt is proposed that no weighted deduction will be allowed on any specified business w.e.f (b) deduction under section 35(2AB) of the Income-tax Act is proposed to be limited to 100 32https://www.incometaxindia.gov.in/News/Forms/AllItems.aspxpdfFalsepdfNews2015-11-19T18:30:00.0000000Zd314f41b-9f7e-47e9-8dec-841d42e3c73c91a70a4758-4931-403d-8a28-e1255b78386dhttps://www.incometaxindia.gov.in
Deductions which may be made from wages4179327/2/2022 5:15:55 AMor his agent shall, for the purposes of this Act, be deemed to be a deduction from wages shall not be deemed to be a deduction from wages in any case where the rules framed by 72https://www.incometaxindia.gov.in/Acts/Payment of Wages Act, 1936htmlFalsehtmActPayment of Wages Act, 19367EMPTYEMPTY13896cd1-2b32-4ec2-8593-d8603ef8120d27484a70a4758-4931-403d-8a28-e1255b78386dhttps://www.incometaxindia.gov.in
Deductions for damage or loss4182927/2/2022 5:15:43 AM[(1) A deduction under clause (c) or clause (o) of sub-section (2) of section 7 shall (2) All such deductions and all realisations thereof shall be recorded in a register to 4https://www.incometaxindia.gov.in/Acts/Payment of Wages Act, 1936htmlFalsehtmActPayment of Wages Act, 193610EMPTYEMPTY13896cd1-2b32-4ec2-8593-d8603ef8120d27376a70a4758-4931-403d-8a28-e1255b78386dhttps://www.incometaxindia.gov.in
Deductions for absence from duty4179347/2/2022 5:15:55 AM(2) The amount of such deduction shall in no case bear to the wages payable to the respect of the wage-period for which the deduction is made a larger proportion than the 98https://www.incometaxindia.gov.in/Acts/Payment of Wages Act, 1936htmlFalsehtmActPayment of Wages Act, 19369EMPTYEMPTY13896cd1-2b32-4ec2-8593-d8603ef8120d27491a70a4758-4931-403d-8a28-e1255b78386dhttps://www.incometaxindia.gov.in
Deductions 181106/16/2014 6:27:44 AMhttps://www.incometaxindia.gov.in/Lists/Rule Subjects/AllItems.aspxFalseRuleDeductionsee23d0a4-4a26-4f60-a6f2-9a714467b9a9193a70a4758-4931-403d-8a28-e1255b78386dhttps://www.incometaxindia.gov.in29A