Dear Professional Colleagues,

“However difficult life may seem, there is always something you can do and succeed at.”

"A leader ... is like a shepherd. He stays behind the flock, letting the nimblest go out ahead,
whereupon the others follow, not realizing that all along they are being directed from
behind."
-Nelson Mandela

We at HVJ never give up on anything, we strive hard and work with consistency leading to
perfection continued dedication, hard work and passion to give best services to our esteemed
clients’ needs and to serve our clients the best and help them achieve their business goals. We
work on building trust of our clients by providing best quality services, we make consistent
effort and work passionately to serve our clients’ needs and complete the work on time
effectively and efficiently.

We are delighted to bring you our 126th edition of HVJ Communique which briefs about
various amendments/circulars/clarifications in Goods and Service Tax, Income Tax, RBI and
Companies Act 2013. We are always on our forefront to apprise our clients, associates as well
as those seeking knowledge with recent updates on various laws and regulations. We have
consolidated various regulatory announcements and amendments by respective regulators,
along with our analysis, for the month of April 2024.

With warm regards,

CA Sudheer Javali
Partner
B. Com, FCA, DISA

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 1. Financial Year Checklist for FY 2024-25
2. Goods and Services Tax Act, 2017
3. Income Tax Act, 1961
4. RBI / FEMA
5. Key Features of Budget 2024-2025

Foreign Exchange Fluctuation

Currency As on 29th Feb 2024 As on 31st March 2024 Fluctuation

US 82.49 83.41

GBP 104.67 105.25

EURO 89.58 90.04

JPY 0.5524 0.5511

Stock Market Fluctuation

Stock
As on 29th Feb 2024 As on 31st March 2024 Fluctuation
Exchange

Sensex 72,573.55 74,055.28

Nifty 22,014.55 22,471.35

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Sl. Particulars Due Date
No.
Compliance Calendar for GST
1. GSTR 7 is a return to be filed by the persons who is required to deduct TDS 07-04-2024

2. GSTR 8 is a return to be filed by the persons who is required to deduct TCS 10-04-2024

3. GSTR-1 (Monthly) for March 2024 11-04-2024

4. GSTR-1 (IFF) (Quarterly) for March 2024 as per QRMP Scheme 13-04-2024
5. GSTR-6 (Monthly) for March 2024 (ISD) 13-04-2024

6. Form No. 15CC: Quarterly statement in respect of foreign remittances 15-04-2024

7. Form no. 3BB by a stock exchange in respect of transactions in which client codes 15-04-2024
been modified after registering in the system for the month of March, 2024
8. CMP-08: Quarterly Challan-cum-statement to be furnished by composition dealers 18-04-2024

9. GSTR -5 for March 2024 (Non-Resident Taxable person) 20-04-2024

10. GSTR – 5A for March 2024 (OIDAR Service provider) 20-04-2024
11. GSTR-3B (Monthly) for March 2024 20-04-2024
12. Form 15G/15H: Due date for furnishing of Form 15G/15H declarations received 30-04-2024
during the quarter ending March, 2024
13. Form 24G: Due date for furnishing of Form 24G by an office of the Government
where TDS/TCS for the month of March, 2024 has been paid without the production 30-04-2024
of a challan
Compliance Calendar for ESI, PF & PT Payments

1. PF Payment for the Month of March 24 15-04-2024

2. ESI Payment for the Month of March 24 15-04-2024
3. Professional Tax Payment for the Month of March 24 20-04-2024
4. PF Annual Returns 30-04-2024
5. PT – EC Annual Returns 30-04-2024
Compliance Calendar for Income Tax Act, 1961
1 Due date for issuing TDS certificate for tax deducted under Section 194-IA, Section 14-04-2024
194-IB, Section 194M and Section 194S in February 2024.
2 Due date for furnishing of challan-cum-statement in respect of tax deducted under 30-04-2024
section 194-IA, 194-IB, 194M in the month of March, 2024
3 Payment of TDS/TCS deducted /collected in March 2024 30-04-2024
4 Due date for depositing tax deducted under sections 192, 194A, 194D and 194H for 30-04-2024
January-March 2024 quarter.
5 Due date for uploading Form 15G/Form 15H for January-March 2024 quarter. 30-04-2024
Compliance Calendar for Companies Act, 2013

1 MSME Half Yearly return for October 2023 to March 2024 30-04-2024

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Sl. Particulars
No.
1. Generate new invoice serial numbers for sales, debit notes, credit notes, etc., effective from April 1,
2024.
2. Organize a new set of physical and soft-form files for sales, purchases, expenses, etc., sequentially
for easy reference.
3. Review and update vendor and customer MOUs/agreements with current rates and terms.
4. Verify the validity of various government licenses such as PT, GST LUT, etc., and ensure timely
renewal.
5. Review and update company policies as necessary and document any changes.
6. Ensure KYC compliance with customers/vendors, including updated documents such as MSME
certificates and GST information.
7. Implement an audit trail in the accounting software, to full fill regulatory requirements.
8. Stay informed about statutory changes regarding Income Tax, GST, ROC, etc., applicable from April
1, 2024, and ensure compliance.
9. Consider changing bank and statutory login passwords in line with internal company policies.
10. Address provisions and prepaid reversals from the previous year in the current year's financial
statements.
11. Prepare budget and forecasting for the new financial year to guide financial planning and decision-
making.
12. Check the applicability of e-invoicing based on the previous year's turnover, considering the
turnover limit set from August 2023 (5 crore INR).
13. Perform checks under Income Tax Section 206AB/206CCA for TDS rates applicable to specified
persons.
14. Verify TCS/TDS applicability under sections 206C1h/194Q, considering thresholds for revenue
and payment/receipt with one party.
15. Ensure interested director disclosures at the beginning of the year or during the first board meeting
(for companies).
16. Address any other specific requirements applicable to the company.

By following this checklist, the company can ensure a smooth transition into the new financial year
while remaining compliant with regulations and best practices.

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1. Integration of E-Waybill system with New IRP Portals
https://www.gst.gov.in/newsandupdates/read/626

GSTN is pleased to announce the successful integration of E-Waybill services with four new IRP portals
via NIC, enabling taxpayers to generate E-Waybills alongside E-Invoicing on these four IRPs.

This new facility complements the existing services available on the NIC-IRP portal, making E-Waybill
services, along with E-Invoicing, available across all six IRPs.

 https://einvoice1.gst.gov.in
 https://einvoice4.gst.gov.in
 https://einvoice2.gst.gov.in
 https://einvoice5.gst.gov.in
 https://einvoice3.gst.gov.in
 https://einvoice6.gst.gov.in

2. Advisory on GSTR-1/IFF: Introduction of New 14A and 15A tables

https://www.gst.gov.in/newsandupdates/read/627
The recent advisory on GSTR-1/IFF introduces two new tables, 14A and 15A, aimed at capturing
amendments related to supplies made through e-commerce operators. This article delves into the
implications of these additions for taxpayers and e-commerce operators.

Table 14A allows suppliers to amend details of original supplies reported in Table 14, pertaining to
transactions where e-commerce operators are liable to collect tax under section 52 or liable to pay tax
under section 9(5) of the CGST Act, 2017.

Similarly, Table 15A enables e-commerce operators to amend details of original supplies reported in
Table 15, categorized based on the type of supplier and recipient.

The introduction of these tables necessitates a thorough understanding of their implications.

Amendments made in Table 14A will auto-populate taxable values in GSTR-3B, ensuring seamless
compliance. Additionally, amendments in Table 15A impact tax liabilities across various supply
categories, with values auto-populated in GSTR-3B accordingly. E-commerce operators are advised to
manually add e-invoice records related to section 9(5) supplies in Table 15A, as there is no auto-
population functionality.

Furthermore, the reporting of debit or credit notes related to section 9(5) services is mandated in Table
9C of GSTR-1/IFF. The impact of these amendments extends to GSTR-2B, where a new table, “ECO –
Documents (Amendment),” is introduced. Registered recipients can now view amended document
details of supplies made through e-commerce operators liable to pay tax under section 9(5) in this table.
Values are auto-populated from Table 15A, streamlining the reconciliation process for recipients.

Conclusion: The introduction of Tables 14A and 15A in GSTR-1/IFF represents a significant regulatory
update aimed at enhancing transparency and compliance in e-commerce transactions. Taxpayers and
e-commerce operators must familiarize themselves with these amendments to ensure seamless
reporting and compliance. Additionally, the impact of these changes on GSTR-3B and GSTR-2B
underscores the need for proactive adaptation to evolving GST regulations. By staying informed and
implementing necessary measures, stakeholders can navigate these changes effectively and contribute
to a more robust GST ecosystem.

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3. Financial Year End Checklists w.r.t GST

E-portal and Filings

 LUT shall be renewed for FY 2024-25 - applicable for supplies to SEZ and export transactions.
 A registered person who has opted for composition scheme for FY 23-24 should file FORM GSTR-4
on or before 30th April 2024
 Time limits to apply for QRMP scheme to opt-in or opt-out by 30th April 2024.

Reconciliations for FY 2023-24

 Outward supplies as per books must be matched with GST returns (Books vs GSTR-1 Vs GSTR-
3B). This may help indicate if any amendments are required to be made to GST returns. [Turnover
+ Taxes incl. RCM]
 Rate wise reconciliations – Books Vs GSTR 1 (incl. tax ledgers vs 3B for RCM).
 Reconciliation of balance of credit and cash as per GST portal with balance appearing in books.
Variance indicates monthly entry error, or possible missed out/excess claimed ITC.
 GSTR 2B Vs ITC Register (books) - Invoice-level tracking of eligible and ineligible ITC in books of
accounts and reconciliation to ITC disclosures in GSTR 3B for the FY. Spillover transactions to be
specifically tracked.
 Identification of pending ITC (as per books & GSTR 2B) – Optimize ITC claim, follow up with
vendors where required for updating/amending their GSTR 1.
 Verification of credits temporarily reversed, and action taken, i.e. claimed, or considered as
permanently ineligible.

 Verification whether RCM paid matches to RCM ITC claimed? (other than ineligible ITC)
 HSN consolidated thru GSTR 1 Vs Books value [T/o + Taxes]
 Ensure that Electronic Credit Reversal & Recredit Statement has been updated which appropriate
data.
 E-way bill reconciliation with GSTR 1. In case EWB not required against supply, document reasons
for the same.
 Reconciliation of E-Invoices issued during the year viz a viz tax invoices generated. E- invoices
required even for GST credit notes & GST debit notes.
 Books inventory Vs physical inventory - assess if ITC reversal to be required or may indicate
accounting lapse + missed out ITC.
 Obtain confirmation from Customers that ITC has been reversed against CNs raised. Alternatively,
can be part of tax clauses in agreement/MoU etc.

Outward (liability)

 Verify if any GST DN / CN should be issued for any value short/excess charged or any sales
returns by the customer. Time limit applicable only for CN (latest by 31st October). Verify
agreement clauses on discounts to be provided and requirement to issue CN.
 Verify supply of old vehicles including possibility of payment of GST only on profit margin in
terms of noti.no.8/2018-CT.
 Review of tax utilization entries passed in books of accounts vis a vis electronic liability ledger.
 Reviewing the debtors ageing report - Tax implication on customers, i.e. their ITC would not be
eligible until payment + MSME non-compliance (useful for realization).

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 Review of outstanding amounts towards export of services and in case of goods where refund
claims are being made.
 Amendments to GSTR 1 – Changing the outward supplies from B2C to B2B or the type of tax –
Passing on the credit to the customers before time limit. (can issue standard instruction - changes
not accepted beyond FY end)
 Ensure tax liability against receipt of advances (services) and adjustment thereof to derive at
unadjusted advances [recently clarified refund voucher in GSTR-1 Adv Adj.]
 Cross charge to distinct person and related parties for supply of common services
 Verify CGST/SGST paid instead of IGST and vice-versa. Understand if sec 77 (CGST Act) sec 19
(IGST Act) would be applicable (no interest implication).
 Verify Income from other sources – if any liable/not liable under GST. Incentive Vs Discounts; GST
liable on Interest charged for delayed receipts]
 Verify expenses credited in books of accounts which may indicate income accounted as part of
expenditure. Verify and ensure applicable GST on the same.
 Ensure GSTR 1 matches GSTR 3B. In case of mismatch ensure reply to DRC-01B notice is done
within 7 days. Periodic check of portal for notices necessary.
 Exports proceeds e-BRC receipt within 9 months can be verified (linked to FEMA). If not
 eligibility of ‘zero-rated supply’ questionable.
 Standard terms in contracts to avoid future disputes:
 ITC w.r.t Credit note (if any) issued would be considered as reversed.
 We are in compliance with GST laws.

Inward (ITC)

 Timing of availing credit - receipt of goods/service+ Sec 16, RCM credits, credit on advances
ineligible etc.
 Rule 37 – Check for ITC reversal required on account of non-payment within 180 days or reclaim
of any ITC in respect of supplies for which payment has been made. [Recently clarified ITC reversal
in table 4B]
 Rule 37A – Check (in GSTR 2A) whether vendors have filed their GSTR 3B. This will help satisfy
S16(2)(c) of the CGST Act. Where not filed, ITC must be temporarily reversed and can be reclaimed
once GSTR 3B is filed by the vendor (irrespective of time limit)
 Expense + ITC not accounted – identified through GSTR 2B.
 Check if any reversal required against purchased goods rejected and returned or other credits to
the expense ledgers (ensure the impact of the same has been considered in GST returns). Verify
against vendor CN reflecting in the GSTR 2B.
 Ensure vendor CNs reflecting in GSTR 2B are correct, and ITC is reversed against the same. If not
communicate with taxpayer to amend/rectify such details in GST returns.
 Accounting of credit where details are not reflected in GSTR 2B – Deferred input account – re-
evaluate before October of coming year and consider charge to vendor and passing of as expenses.

 Rule 42 – Impact of annualized ITC reversal in case of exempted as well as taxable supplies to be
considered (re-computation) [Ensure ‘exempt supply’ is correctly taken in line with S17(3), R43
explanation and R45(4) explanation]
 To verify whether ITC has been reversed on entries passed due to writing off inventories, assets,
theft, samples, destruction, obsolete, etc.
 Verify compliance with ISD provisions – recent Budget Feb ‘24 indicates mandatory inclusion is
imminent. Modification of procurement process, vendor communication, readiness to file GSTR 6
and distribute ITC in compliance with GST laws to be studied. Where ISD is not applicable,
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 whether cross charge can be complied to ensure procedural lapse only can be examined. [Refer
Circular 199/2023]
 Ensure GSTR 2B is higher than ITC claimed in GSTR 3B. In case of mismatch ensure reply to DRC-
01C notice is done within 7 days of issue. Regularly go through the portal to identify such notices.
 Import of goods-BOE Vs ICEGATE Vs GSTR 2B – Check periodically to ensure no missed out.
 Ensure E-invoice is available for procurements. If not, declaration from vendor that E- invoicing
provisions are not applicable/exempt to be maintained.
 For procurements from unregistered persons, suggest obtaining a declaration from vendor that he
is below the threshold limit/exempt from GST registration. (with PAN)

Others

 Ensure mobile no. & email ID on GST portal is functional and valid to avoid miscommunications.
 Ensure Aadhar authentication is completed on the GST portal.
 Track status of goods sent on job work or goods sent on approval whether all the goods have been
received back within the due time period. (1+1 yr inputs/ 3+2 years CG). If not received in time,
the invoice must be raised appropriately.
 Verify year-end accrual/provision entries for transactions with related parties and evaluate the
GST implications. (import of service possibility)
 HSN 6-digit level – mandatory requirement from 01.04.2021. Ensure correctness and display in tax
invoice. (T/o > Rs. 5 cr)
 Obtaining GST registration in other States where supplies are made. Compliance with concept of
fixed establishment, supply, etc.
 Interest to be paid on utilization of ITC only, that too at 18% p.a.
 Documentation of notices, letter cover, replies/responses (mail + RPAD) in a separate
correspondence file.
 Maintain data of inward, outward, RCM, EWB, documents (tax invoice, e-inv, vouchers, etc.) for 6
years from annual return due date of FY (ex: for FY 23-24 6 years from 31-12- 2024).

1. CBDT notifies ‘National Mission for Clean Ganga’ for Sec. 10(46) exemption
The Central Board of Direct Taxes (CBDT) has notified ‘National Mission for Clean Ganga’ for the
purposes of clause (46) of section 10 of the Income-tax Act, 1961.

2. Income Tax Act: Press Trust of India Limited Notification (Section 10(22B)
[Notification No. 32 /2024 (F.No.165/1/2021-ITA-I)]
https://incometaxindia.gov.in/communications/notification/notification-32-2024.pdf

The notification, issued under the authority of clause (22B) of section 10 of the Income-tax Act, 1961,
designates “The Press Trust of India Limited, New Delhi” as a news agency established in India
exclusively for the collection and dissemination of news. This designation applies for the assessment
years 2022-2023 to 2023-2024.

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 The Press Trust of India Limited plays a pivotal role in the Indian media landscape, providing timely
and reliable news content to a wide array of subscribers. By granting tax exemption, the government
recognizes the critical role played by such entities in fostering a vibrant and informed society.

3. CBDT Waives Off Late Fees & Interest for Delayed Filing of Form 26QE for Period from July 2022 to
Feb. 2023
[Circular No. 04/2024]
https://incometaxindia.gov.in/communications/circular/circular-4-2024.pdf
Section 194S of the Income-tax Act, 1961, provides for the deduction of tax at the rate of 1% from any
sum payable by way of consideration for the transfer of a virtual digital asset. Further, as per rule
31A(4D), a ‘specified person’ is required to report such deductions in a challan-cum statement
electronically in Form No. 26QE within 30 days from the end of the month in which such deduction is
made.

However, due to the non-availability of Form 26QE, the specified persons who deducted tax under
section 194S from 01.07.2022 to 31.01.2023 could not file Form No. 26QE and pay corresponding TDS on
or before the due date. This resulted in the levy of fees under section 234E and interest under section
201(1A)(ii). Further, the specified persons who deducted tax under section 194S from 01.02.2023 to
28.02.2023 had insufficient time to file Form No. 26QE and pay the corresponding TDS thereon.

To address the grievances of such specified persons, the Central Board of Direct Taxes (CBDT) has issued
a circular extending the due date to 30.05.2023 for furnishing of Form 26QE for the tax deducted under
section 194S during the period 01-07-2022 to 28-02-2023.

Accordingly, the fee levied under section 234E and interest charged under section 201(1A)(ii) in all such
cases for the period up to 30.05.2023 shall be waived

4. Time limit for verification of return after uploading.

Notification No. 2 of 2024, issued by the Central Board of Direct Taxes (CBDT), addresses the time limit
for verification of Income Tax Returns (ITRs) after uploading. This notification provides clarity on the
consequences of late verification and outlines the prescribed procedure for ITR-V submission.

It is clarified that:
 Where the return of income is uploaded and e-verification/ITR-V is submitted within 30 days of
uploading – In such cases the date of uploading the return of income shall be considered as the
date of furnishing the return of income.
 Where the return of income is uploaded but e-verification or ITR-V is submitted after 30 days of
uploading – In such cases the date of e-verification/ITR-V submission shall be treated as the date
of furnishing the return of income and all consequences of late filing of return under the Act shall
follow, as applicable
 The date on which the duly verified ITR-V is received at CPC shall be considered for the purpose
of determination of the 30 days period from the date of uploading of return of income.
 It is further clarified that where the return of income is not verified after uploading within the
specified me limit as per paragraph 2 of this notification, such return shall be treated as invalid.

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  It is reiterated for the sake of assessee convenience that e-verification, immediately upon filing of
the return is the most desirable action.

FAQs on 30 Days’ Timeline for E-verification of Returns

https://www.incometax.gov.in/iec/foportal/itr-v-faqs

1. RBI issues revised master circular on ‘Income Recognition, Asset Classification, Provisioning’ to
commercial banks.
RBI has issued the revised Master Circular on ‘Income Recognition, Asset Classification and Provisioning
on Advances’ to all commercial banks (excluding RRBs). This circular consolidates all the instructions
issued to banks up to 31.03.2024. The circular highlights norms w.r.t income recognition policy,
computation of NPA levels and guidelines for classification of assets. Further, it prescribes a framework
for resolution of stressed assets and early identification & reporting of stress.
https://rbi.org.in/Scripts/BS_ViewMasCirculardetails.aspx?id=12499

Revised Secretarial Standards on Meetings of the Board of Directors (SS-1) and General Meetings
(SS-2)

(Revised by the Institute of Company Secretaries of India (ICSI) and approved by the Central Government under
Section 118(10) of the Companies Act, 2013)

Secretarial Standards on Meetings of the Board of Directors (SS-1) and General Meetings (SS-2) were
made applicable from 1st July, 2015 and revised version thereof were made applicable from 1st October,
2017 (“Existing version”).

Considering the legal amendments on the subject, SS-1 and SS-2 have been revised further by the ICSI to
bring them in alignment with the provisions of the Companies Act, 2013 and Rules made thereunder
(“the Act”).

The ICSI is pleased to announce that the approval of the Central Government for specification of the
Revised SS-1 and SS-2 under Section 118(10) of the Act was accorded vide Ministry of Corporate Affairs
(MCA) letter dated 2nd January, 2024.

The Revised SS-1 and SS-2 are available on the ICSI website at the link

https://www.icsi.edu/ssb/home

The Revised SS-1 and SS-2 shall be effective from 1st April, 2024.RBI has issued the revised Master
Circular on ‘Income Recognition, Asset Classification and Provisioning on Advances’ to all commercial
banks (excluding RRBs). This circular consolidates

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1. Logic behind forming HUF to save Tax

Establishing a Hindu Undivided Family (HUF) necessitates acquiring a separate PAN Card, which offers
significant tax benefits. Since the family's income isn't taxable in the hands of any single individual, the
HUF receives its own PAN card, facilitating tax payments.

With the issuance of a new Permanent Account Number (PAN) Card for the entire family, the HUF can
leverage the Income Tax Slab Rates. This means income remains tax-free up to certain thresholds before
being subjected to taxes, with rates increasing at 10%, 20%, and 30%. Establishing an HUF can lead to
substantial tax savings under the income tax regime.

Consider a family comprising a husband, wife, and two children. The wife's income stands at 18 lakhs
rupees, while the husband earns 25 lakh rupees. Additionally, they earn 8 lakh rupees annually from
property rent.

If this rental income were taxed in the hands of either the husband or wife, it would attract the highest
slab rate of 30% post all eligible deductions. However, if the same income were taxed under the HUF, an
additional basic exemption of INR 2.5 Lakhs would apply. Consequently, the tax liability for the HUF,
based on the Slab Rates, would range between 70,000 and 80,000 rupees, depending on the income tax
deductions claimed. Taxation of rental income under the HUF structure results in an annual saving of
1,80,000 rupees (2,40,000 rupees - 60,000 rupees).

2. Other Relevant points regarding HUF

 Hindu Undivided Family’s like individuals, are required to submit an Income Tax Return every
year.
 The Timeline date for filing the Hindu Undivided Family’s Income Tax Return is July 31st of the
AY if not covered under tax audit cases.
 Hindu Undivided Family’s Karta has the authority to sign all documents on the Hindu Undivided
Family’s behalf. He may, however, grant this authority to other adult members.
 Although an adopted child can join the Hindu Undivided Family, he cannot become a co-parcener.
The only distinction between a member and a co-parcener is that a member cannot request that the
Hindu Undivided Family be partitioned.
 Hindu Undivided Family’s are recognised across India, with the exception of Kerala, where they
are not. Kerala Joint Family System (Abolition)Act, 1975 abolished the Kerala Joint Family System
on December 1, 1976.
 Depending on where the Hindu Undivided Family’s control is located in India, the Hindu
Undivided Family may be a resident or non-resident.

3. Tax Deductions available to HUF

Apart from basic exemption limit of INR 2.50 Lakhs, following are some of the deductions are available
to HUF.

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Sr. Description Threshold Limit
No
1 Section 80C Combined deduction limit of
Deduction towards payments made to ₹ 1,50,000
 Life Insurance Premium
 Provident Fund
 Subscription to certain equity shares
 Tuition Fees
 National Savings Certificate,
 Housing Loan Principal

2. Section 80D
Deduction towards payments made to Health Insurance
Premium & Preventive Health check up
For Self / Spouse or Dependent Children Deduction limit is
₹ 25,000 (₹ 50,000 if any person
is a Senior Citizen)
₹ 5,000 for preventive health
check-up, included in above
limit
For Parents Deduction limit is
₹ 25,000 (₹50,000 if any person
is a Senior Citizen)
₹ 5,000 for preventive health
check-up, included in above
limit
Deduction towards medical expenditure incurred on a Senior
Citizen, if no premium is paid on health insurance coverage
For Self / Spouse or Dependent Children Deduction limit is ₹ 50,000
For Parents Deduction limit is ₹ 50,000
3. Section 80DD Flat deduction of
Deduction towards payments made towards Maintenance ₹ 75,000
or Medical Treatment of a Disabled dependent or paid / available for a person with
Deposited any amount under relevant approved scheme. Disability, irrespective of
expense incurred.
The deduction is
₹ 1,25,000
if the person has Severe
Disability (80% or more).
4. Section 80DDB Deduction limit of
Deduction towards payments made towards Medical ₹ 40,000
Treatment of Self or dependant for specified disease. (₹1,00,000 if Senior Citizen)
5 Section 80G
Deduction towards donations made to prescribed Funds,
Charitable Institutions, etc.
6 Section 80GGC Deduction of total amount paid
Deduction towards donations made to Political Party or through any mode other than
Electoral Trust cash
7 Section 80TTA Deduction limit of
Deduction on interest received on saving bank accounts ₹ 10,000

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Help us improve - We hope you find this Journal informative and of continued interest. We
welcome your feedback at info1@hvj.co.in

DISCLAIMER: The views expressed are strictly of the author and HVJ and Associates. Information in this
publication is intended to provide only a general outline of the subjects covered. It should neither be regarded as
comprehensive nor sufficient for making decisions, nor should it be used in place of professional advice. HVJ and
Associates and its team accepts no responsibility for loss or damages arising from any action taken or not taken
by anyone using this publication.

Thanking You,
Team HVJ

****************

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