tax deduction

ITR filing FY2024: What tax benefits do senior citizens receive on medical insurance 

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ITR filing FY2024: What tax benefits do senior citizens receive on medical insurance 

Maintaining proper management of health conditions is imperative to prevent complications in later years, as individuals become increasingly susceptible to ailments. Considering the substantial medical expenses prevalent today, a comprehensive health insurance policy can be invaluable in mitigating the high costs associated with hospital stays and medical consultations.  The Insurance Regulatory and Development Authority of … Read more

Almost 50% population have PAN, gap between male & female closing: Income Tax dept data

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Almost 50% population have PAN, gap between male & female closing: Income Tax dept data

Latest Income Tax department data shows that nearly half of India’s population have got Permanent Account Number (PAN). It stated that the gap between the number of male and female PAN holders still exists, but it is fast closing. As on March 31, 2024, 42.10 crore males have PAN cards vs 31.05 crore females, a … Read more

No investment-linked deduction available if audit report not submitted with income tax returns: Delhi Tax Tribunal

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Mumbai: The Delhi Tax Tribunal said that the tax deduction or benefits of investment-linked deductions were not available if the taxpayer hasn’t submitted the audit report along with the income tax return filing. The Indian Tax Laws provide for various investment-linked deductions subject to compliance of various conditions. These deductions are condition-ridden and one such … Read more