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A resource site for beginners with easy to understand income tax, gst, and finance tutorials for mastering the basics and beyond.

Income Tax

Income tax Form 26AS – why it’s required before filing IT return

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Before filing your Income Tax return, you need to check various documents to know details of your income and amount of tax deducted at source (TDS). To cross check details of tax deducted from your income, you need to first check Form 26AS online.Form 26AS is an online consolidated statement available at income tax website which shows details of tax deducted at source … [Read more...] about Income tax Form 26AS – why it’s required before filing IT return

How to Claim Education Loan Tax Deduction under Section 80E – Complete Guide

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If you or your family member has taken an education loan for higher studies—such as an MBA, engineering, or medical degree—you may be eligible for a valuable tax benefit under Section 80E of the Income Tax Act.This guide will help you understand how to claim education loan tax deduction, reduce your financial burden, and make informed financial decisions.What is … [Read more...] about How to Claim Education Loan Tax Deduction under Section 80E – Complete Guide

How to Claim Tax Deduction on Tuition Fees in India (Section 80C)

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Ever wondered if the money you spend on your child’s school or college fees can help you save on taxes? You're not alone. Many parents in India, whether they're salaried professionals or small business owners, often miss out on this valuable benefit simply because they aren't aware of how it works.Think of it like buying mangoes from your local sabziwala—if you know which … [Read more...] about How to Claim Tax Deduction on Tuition Fees in India (Section 80C)

Tax deduction for medical treatment of specified diseases-Section 80DDB

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If you're exploring ways to reduce your tax liability due to medical expenses incurred for yourself or your dependents, you're not alone. This is a common concern for salaried individuals, freelancers, and small business owners—particularly those managing family responsibilities or dealing with critical health issues.The Income Tax Act, 1961, offers relief through Section … [Read more...] about Tax deduction for medical treatment of specified diseases-Section 80DDB