Introducing the “In Favour Of” filter in Case Laws.
- ⚖️ Instantly identify judgments decided in favour of the Assessee, Revenue, or Appellant
- 🔍 Narrow down results with higher precision
Try it now in Case Laws →
TaxTMI Login
🚀 New Feature Launched ✕
Just a moment...
Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>New Section 86A Allows Tax Deduction on Interest from Tax-Free Government Securities under Income Tax Act.</h1> In Chapter VII of the Income Tax Act, a new Section 86A is introduced, allowing for a deduction from tax on certain securities. If an assessee's total income includes interest from Central Government securities declared income tax-free or State Government securities where the tax is paid by the State, the assessee can deduct an amount equal to the income tax on this interest. This deduction is calculated at either the average tax rate or 25%, whichever is lower.
TaxTMI 
TaxTMI 
