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What is the Foreign Tax Credit (FTC)?
FTC is a credit given for taxes paid in a foreign country, which can be claimed against the tax liability in India.
FTC is a credit given for taxes paid in a foreign country, which can be claimed against the tax liability in India.
See lessHow can one claim relief under DTAA?
Relief can be claimed by providing proof of taxes paid in the foreign country and applying for tax credits or exemptions as per the DTAA.
Relief can be claimed by providing proof of taxes paid in the foreign country and applying for tax credits or exemptions as per the DTAA.
See lessWhat is Double Taxation Avoidance Agreement (DTAA)?
DTAA is a treaty between two countries to avoid taxing the same income twice.
DTAA is a treaty between two countries to avoid taxing the same income twice.
See lessQ: How is foreign income taxed for residents in India?
Residents in India are taxed on their global income, including income earned outside India.
Residents in India are taxed on their global income, including income earned outside India.
See lessWhat is Section 80G?
Section 80G provides a deduction for donations made to specified charitable institutions and relief funds.
Section 80G provides a deduction for donations made to specified charitable institutions and relief funds.
See lessHow long can one claim the deduction under Section 80E?
The deduction can be claimed for up to 8 years or until the interest is fully repaid, whichever is earlier.
The deduction can be claimed for up to 8 years or until the interest is fully repaid, whichever is earlier.
See lessWhat is Section 80E?
Section 80E provides a deduction for interest paid on education loans for higher studies.**
Section 80E provides a deduction for interest paid on education loans for higher studies.**
See lessWhat is the maximum deduction allowed under Section 80D?
The maximum deduction is Rs. 25,000 for self, spouse, and children, and an additional Rs. 25,000 for parents (Rs. 50,000 if parents are senior citizens).
The maximum deduction is Rs. 25,000 for self, spouse, and children, and an additional Rs. 25,000 for parents (Rs. 50,000 if parents are senior citizens).
See lessWhat is Section 80D?
Section 80D provides a deduction for premiums paid on health insurance for self, spouse, children, and parents.
Section 80D provides a deduction for premiums paid on health insurance for self, spouse, children, and parents.
See lessWhat are the tax benefits on gratuity received by employees?
Gratuity received by employees is tax-exempt up to a certain limit, depending on the tenure and last drawn salary.
Gratuity received by employees is tax-exempt up to a certain limit, depending on the tenure and last drawn salary.
See less