Income Tax Deductions under Chapter-VI A

As the tax season approaches, it is important to understand the various deductions available under Chapter VI-A of the Income Tax Act. Chapter VI-A outlines the deductions available to individuals and HUFs (Hindu Undivided Families) from their total income, which can help reduce their taxable income and save taxes. Here’s a brief overview of the various deductions available under Chapter VI-A:

• What is a tax deduction?
• Deduction allowed from which income?
• Can the Deduction be more than the Gross Total Income?
• Can Deduction be claimed twice?
• Role of Income Tax Return to Claim Deduction under Chapter VI A?
• What is Gross Total Income?

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