Chapter vi a deductions for ay 2013-14 pdf file

Some good behaviours are investing for the long term, protecting oneself and family through insurance, contributing to social and economic activities. How to claim relief under section 891 on salary arrears. Now add a latest nature of payment called tds on transfer immovable property other than agriculture land w. Under section 80c, deduction would be available from gross total income. This form has been discontinued from fy 201617 ay 201718 onwards. Tds rates for payments of salary wages and other payments for ay 202122 in user friendly format. Extension of time limit for submitting itrv for ay 2014 and ay 201415. These instructions are guidelines for filling the particulars in this return form. It deductions allowed under chapter via sec 80c, 80ccc. The most popular one is section 80c of chapter via. Payment of this tds tax deducted at source made by form 26qb. Deduction under section 80c in respect of prescribed contributions to. Assessment year 201920 includes income under the head. Unlike ay 2012, in ay 2014 most of the taxpayers would require to efile itr2 because itr1 is to be used by only those taxpayers whose exempted income does not exceeds rs.

Therefore, the maximum deduction available under this section is to the extent of rs. Let us discuss briefly about all the sections with reference to the income tax act 201415. In this article we provide complete list of deductions with name of section. In case of any doubt, please refer to relevant provisions of the incometax act, 1961 and the income tax rules, 1962. Click here to know income tax salb rates fy 2014ay 201415 tax options beyond 80c click here this an attempt to focus on tax saving instruments, which helps to the tax payer even without professional or specialized knowledge in tax related, can also plan properly for hard earning money. Obligation to file return every individual whose total income before allowing deductions under chapter via of the incometax act, exceeds the maximum amount which is not chargeable to income tax is obligated to furnish his return of income. Under this section deduction from total income in respect of various investments expenditurespayments. Eligible deductions us 80c as per section 80c deduction eligible us 80c nature of investment. Income tax 201415 what are all the changes affecting. Below table simplify the example of relief under section 89. Click here to save tax with hdfc lifes various online insurance products. If you can not file the return within the due date, you can still file the belated return us 94 upto 31. Chapter via list of all deductions at a glance, list of all income tax deductions from us 80c to 80u. Ay 201819 filing itr1 on the basis of form 16 information posted by gautham on july 9, 2018.

Introduction of section 87a income tax rebate tdsman blog. Fy 2014 and fy 201415 during these financial years, the deduction available under this section was. Tdl file is specially created on request by the customer and some. All deductions under chapter vi a at one place income. Deduction in respect of life insurance premia, deferred annuity, contributions to provident fund, subscription to certain equity shares or. The premium you have paid on the policy taken for yourself, spouse and children is eligible for a deduction under section 80d upto a maximum of rs 25, one of the deductions available under chapter vi a is section 80p which is available for cooperative societies. You shall learn about income tax act of 1961 and chapter via, various subsections.

Admissible deductions from income for salaried employees. Some of the various deductions available to a taxpayer are enumerated. Deductions under sections 80c to 80u deal with these and are clubbed under chapter vi a. Complete guide to the law of disallowance us 14a and rule 8d. Hdfc life provides the latest income tax slab rates and deductions in india for tax payers in different age groups and tax benefits offered by its online insurance products, for the financial year 2014. An annuity plan is a plan in which policyholders pay lumpsum money to receive regular money in installments after a certain period of time. Here we are providing list of all deductions covered under chapter via of income tax act. Deduction in respect of rehabilitation of handicapped dependent relative. From fy 201617 onwards you can file itr2 instead of itr2a. Statement of losses to be carried ite to future years. Administration of tax concessionsexemptionsdeductions. The financial year is over, and we have to do itr filing for the year gone by. Applicable deductions under chapter vi a for year 201415 a.

Certificate under section of the income tax act, for tax deducted at source. We already discussed on how to manage a tdl file in our previous posts. Deductions permissible under chapter via certain deductions are. If you have more than 1 house, then the net annual value of the houses, except the house you.

The finance act, 2008 has amended section 80d of the act and substituted it with a new section 80d providing for the following the provisions of section 80d provide for a deduction of rs. Income tax return form for assessment year 2014 has been released by income tax department vide notification no. Tds rate chart for fy 2014 ay 201415 tally knowledge. Income tax slabs and rates for ay 202021, ay 202122 and ay 201920. Chapter via list of all deductions at a glance, deduction under chapter via. Chapter vi section 80 erp human capital management. Section 24 is titled as deductions from income from house property. Other preferred dedcutions under chapter via are 80d, 80e, 80g, 80ddb and so on.

The ones with capital gains could not use this form. From ay 2014, within the existing limit a deduction of up to rs. Students guide to incometax including service taxvat. The maximum tax exemption limit under section 80c has been retained as rs 1. The chart given below describes the deductions allowable. Deductions from salary income for fy 2014 ay 201415. Penalty for late filing of income tax return deductions under chapter vi a of income tax act for fy 201920ay 202021. The last date of filing income tax extended upto 5. How to file online income tax return of salary income. That is the amount we can get relief under section 89 1 of income tax act by filling form 10e. List of income tax exemptions fy 201718 ay 201819 chapter via deductions list section 80c.

Statement to be registered with the competent authority under section otr 2. Income from house property is applicable in the following cases. X who is 66 years old, has the following details of income and savings during. Section 80ccg provides deduction wef assessment year 2014 in respect of investment. Deductions under chapter vi a section 80c, 80d, 80e. In simple words, taxpayers whose exempted income is more than rs. Income tax exemptions benefits rebates for fy 201617 ay 201718. Due date of filing income tax return for the ay 201516 has been extended by cbdt from 31st july 2015 to 31st august 2015. If you are renting out your house s, then the rent received will be considered as part of your income. The chart given below describes the deductions allowable under chapter via of the i.

Income tax deductions list for fy 201718 or ay 201819. In computing the taxable income of the employee, the following deductions under chapter via of the act are to be allowed from his gross total income. In case you have other income, thenplease refer the guidelines available in theportal or take appropriate professionalassistance. Section 24 income tax deductions from house property. From ay 2014, within the existing limit a deduction of upto rs.

Find out the deduction under section 80c for ay 201819. Each year, employers issue form 16, the statement of salary paid and income tax deducted, to employees, and employees use the information in form 16 to file their income tax. This section provides tax deductions under any investments made in an annuity plan of any insurance company or pension received under funds mentioned in section 1023aab. The income tax act 1961 came into force on april 1, 1962. Companies act 26 deductions chapter via 16 dvat 20 dvat forms 8.

There are a number of deductions available under various sections that will bring down your taxable income. Instructions for filing itr 7 for ay 201718, download itr. Act from the gross total income of the assessees having income from salaries. In this article, let us discuss some of the important deductions under chapter via that a taxpayer can claim. Section 80c limit,80ccd,80d,24b,80e,80g,80ee,87a,80tta. For financial year 201516 deduction is raised from rs 15,000 to rs 25,000. Tds tax deducted at source rate chart for financial year 2014. List of tax deductions under section 80 of income tax. Itr1, itr2, itr3, itr4, itr4s, itr5,itr6, itr7 for ay 2014. Salaried individuals and other nonaudit tax payers are required do income tax return filing compulsorily before 31st july for the year ended 31st march.

For the ay 201516 and subsequent assessment years the notice for reopening us 147 of the itact can be issued by the ao till 30th june 2020 without any limit. Itr2a was for individuals and hufs who had salary income and owned more than one house property. Chartered accountants 2 applicability of tax audit s. You only find it confusing because you are not aware of the terms used in income tax parlance. Income tax deductions allowed under chapter via of income tax act. Deductions under chapter via of income tax act income. Itr2a form for multiple house property income learn by.

Chapter via all deductions, deductions under section 80c. Here is an answer i wrote previously on a similar question. Download income tax return form in pdf download income tax return form. The various investment avenues or expenses that can be. In this part we have described the part of form16 chapter vi a deductions which deals with deductions under chapter via of income tax act and how they appear in form 16. Credit for amt paid in assessment year 2014 and subsequent. In case of any doubt, please refer to relevant provisions of the incometax act, 1961 and the incometax rules, 1962. Instructions to form itr2 ay 201415 page 1 of 10 instructions for filling out form itr2 these instructions are guidelines for filling the particulars in this return form. Income tax slabs income tax rates and deductions for fy 2014. Section nature of deduction remarks 80ccc payment of premium for annuity plan of lic or any other insurer deduction is available upto a maximum of rs. Each of the sections under chapter via are described in short below.