Short-Term Capital Gains (STCG)
Meaning Short-Term Capital Gains (STCG) are profits from selling capital assets held for a brief period.Definition These are…
Self-Assessment Tax
Meaning It’s the tax an individual or entity calculates and pays on their income before the tax authority’s…
Section 87A
Meaning Section 87A provides a tax rebate for resident individuals in India, lowering their income tax liability.Definition This…
Section 80TTA
Meaning Section 80TTA provides a tax deduction on interest earned from savings accounts.Definition It allows resident individuals and…
Section 80G
Meaning Section 80G is a provision in the Indian Income Tax Act focused on encouraging charitable donations.What is…
Section 80E
Meaning This section offers tax deductions for interest paid on education loans for higher studies.Definition Section 80E of…
Section 80D
Meaning Section 80D allows individuals and Hindu Undivided Families (HUFs) to claim deductions for health insurance premiums and…
Section 80CCD
Meaning Section 80CCD of the Income Tax Act offers tax deductions for contributions to the National Pension System…
Section 80C
Meaning Section 80C is a crucial provision under the Income Tax Act, 1961, designed to promote savings and…
Section 24(b)
Meaning Section 24(b) of the Income Tax Act permits individuals to deduct interest paid on home loans, reducing…