Question
Under which section of the Income Tax Act, 1961, can an
individual claim a deduction for the payment of Medical/Health Insurance Premium?Solution
An individual can claim a deduction for the payment of Medical/Health Insurance Premium under Section 80D of the Income Tax Act, 1961. This section provides tax benefits for premiums paid towards health insurance policies for oneself, family, and parents.
The 'Goods and Service Tax Act came into force on :
Which telecom operator consolidation occurred in the Indian telecom industry, leading to a reduced number of major players?
Which of the following reports must be mandatorily submitted by an insurer's statutory auditor to the IRDAI annually?
Which license option has to be selected in case of shifting tally license from one computer to another?
Within how many days an employee can apply for gratuity from the date when gratuity becomes payable?
Tangible property to be consumed in production of goods or services or held for sale in the ordinary course of business is defined as:
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The process of finding present value of a future amount is called:
A machine was purchased on 1st April 2020 for ₹5,00,000. Useful life is 5 years with residual value ₹50,000. Depreciation is charged using written d...
In the context of cash flow statements, which of the following is considered a financing activity?
