Chapter XII-DA - SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC)
Part C - Procedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM)
Chapter XX-B - REQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT)
Deduction for specified savings: permitted deposits and deferred annuity payments qualify for a capped deduction; withdrawals are taxable. Section 80CCA allows individuals and Hindu undivided families to deduct amounts deposited in Central Government notified savings schemes or paid for specified deferred annuity plans of the Life Insurance Corporation, excluding interest or bonus and subject to the statutory cap and temporal provisos. Amounts withdrawn, surrendered, or received as annuity or bonus for which a deduction was allowed are treated as the assessee's income in the year of receipt and are taxable, subject to limited exceptions and recent amendments exempting certain individual withdrawals. Interest on such deposits is chargeable only as provided by the withdrawal rule.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deduction for specified savings: permitted deposits and deferred annuity payments qualify for a capped deduction; withdrawals are taxable.
Section 80CCA allows individuals and Hindu undivided families to deduct amounts deposited in Central Government notified savings schemes or paid for specified deferred annuity plans of the Life Insurance Corporation, excluding interest or bonus and subject to the statutory cap and temporal provisos. Amounts withdrawn, surrendered, or received as annuity or bonus for which a deduction was allowed are treated as the assessee's income in the year of receipt and are taxable, subject to limited exceptions and recent amendments exempting certain individual withdrawals. Interest on such deposits is chargeable only as provided by the withdrawal rule.
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