Tag Archives: DEDUCTIONS

IRS : Credits and deductions for businesses

By | May 10, 2019

IRS highlights credits and deductions for businesses during Small Business Week WASHINGTON — During Small Business Week, the Internal Revenue Service reminds small business owners and self-employed individuals to take deductions and credits that will help their bottom line. This year, National Small Business Week is May 5-11. For more than 50 years, the week has recognized the… Read More »


By | August 17, 2015

ALLOWANCES  DEDUCTIONS IN INCOME TAX ACT 1961 [table id=14 /] Notes: Deduction is limited to whole of the amount paid or deposited subject to a maximum of Rs. 1,50,000. This maximum limit of Rs. 1,50,000 is the aggregate of the deduction that may be claimed under sections 80C, 80CCC and 80CCD. The sums paid or… Read More »