deductions

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Can Total Deductions Exceeds Gross Total Income (GTI) in Income Tax

​​​​​​Deductions provided under Chapter VIA of the Income tax Act, cannot exceed the Gross Total Income (GTI). Income here means all the income accumulated in the GTI and reduced by the incomes mentioned below: Long term Capital Gain (LTCG) under section 112 of the Act Long Term Capital Gain (LTCG) under section 112A of the …

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Don’t want to pay Income Tax?

Are you a salaried person? Want to pay less tax? Do you think you can avoid paying any tax? Got tempted by the Title right? Don’t worry. There’s no way you can do so. But you can manage your taxes and reduce liability through proper planning. Start saving & investing in schemes which are allowable …

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