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How to tackle with Income tax notices

How to tackle with Income tax notices

Every one works hard to earn money, but Government takes one third of that amount  as Taxes. Every one thinks how to save Income Tax? Here We are giving different ways to tackle with income tax notices.

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Here are some of the points to save income tax & grow your money :

1.Save Tax through Home Loan:

If you have taken a home loan, you are allowed to claim  deduction for repayment of principle amount of home loan    under section 80c and section 24.You can claim deduction up to  Rs 1.5 lakh for repayment of home loan  under the overall limit  of Section 80C of the Income Tax Act.And additional deduction  of up to Rs 1.5 lakh under Section 24B for interest payment once  you get ownership and occupy the home.

2. Save Tax through Educational Loan:

If a taxpayer has taken an education loan for the higher education of himself or children or student, he can claim deduction under Section 80E and he can save taxes.This deduction is only allowed for the repayment of interest not for the repayment of principal amount of loan.

3. Save Tax through Investments:

Section 80 C allows for expenditure incurred under certain heads or investments made to be deducted from the total income. 100% of the amount invested or Rs.1,50,000, whichever is less, is available as deduction from total income. Following are some of the options to invest your money under section 80c.

  • Life insurance  premium paid
  • Fixed Deposit for 5 years or more with Scheduled Bank.
  • Any sum deposited in a 10 year or 15 year account under the Post Office Savings Bank

CA Final and IPCC DT IDT Taxation Courses and Books

Check out latest CA FINAL & CA IPCC Videos, books and scanners on Taxation. To see demo please click on the links below and then click on “View” on the video class page. Please note you can watch demo video when you click on View.

All CA Final DT Videos and Books including scanners

All CA FINAL IDT Videos and Books including scanners

All CA IPCC Taxation Videos and Books including scanners

Faculty wise Video Classes –

Raj K Agrawal 

Farooq haque

CA Anish

CA G Saimukundhan 

CA Rajesh Tayal IDT 

CA Prasad Bhandari

Find all Scanners here subject wise –

CA FINAL Scanners

CA IPCC Scanners

Best Recommended Books For Taxation –

 

 

 

 

Direct taxes law and Practice Dr.Vinod K Singhania/Dr Kapil singhania

 

 

 

 

 

 

 

 

Direct tax by Vinod gupta

 

 

 

 

 

 

 

 

Direct Tax Summary Module by vinod gupta

 

 

 

 

TAXATION OF ARTISTES AND SPORTSMEN IN INTERNATIONAL TAX LAW

 

Download the handbook on How to tackle with Income Tax notices

   How to tackle with Income Tax notices

 

Recommended: Top Ten CA Books Bought By Students

 

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