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Category Archives: India Budget 2016

Union Budget 2016 : 100% tax holiday for 3 years to “Eligible Start ups”

Union Budget 2016 : 100% tax holiday for 3 years to “Eligible Start ups” Section 80IAC is proposed to be inserted in Income Tax Act, which governs the deduction of 100% profits from eligible start ups for 3 consecutive years.   Following are the proposed provisions of the same.   What is an “Eligible Business”? […]

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Deduction of 100% profits to Affordable Housing Projects u/s 80IBA

Budget 2016 : Deduction of 100% profits to Affordable Housing Projects u/s 80IBA   Section 80IBA is proposed to be inserted in Income Tax Act, which governs the deduction of 100% profits from affordable housing projects.   Following are the proposed provisions of the same.   Conditions to be satisfied by such housing projects   […]

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FAQ’s on Deduction of Rent Paid under section 80GG of Income Tax Act, 1961

FAQ’s on Deduction under section 80GG of Income Tax Act, 1961 Q.1     Persons eligible for claiming deduction? Only individuals can claim this deduction. That individual can be a self employed person or an employee who do not receive the house rent allowance.   Q.2     Conditions to claim deduction under this section? An individual who […]

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