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Author Archives: Optima Money

No Cash, No Problem! Use these electronic payment methods

No Cash, No Problem! Use these electronic payment methods

Government’s intention to destroy black money has led the common men into trouble. India is normally a cash favored country and the daily transactions are mainly based on the cash payments. Government couldn’t keep its promise of bringing the situation to normal in fifty days as people are still allowed to withdraw limited cash from […]

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Deductions under chapter VI-A of Income Tax Act for AY 2016-2017

Deductions under chapter VI-A of Income Tax Act for AY 2016-2017

Income tax act provides scope of claiming deduction from gross total income. Income earned by an individual under different heads like salary, business or profession is clubbed together to calculate the gross total income. Then eligible deductions are claimed and tax is calculated on the balance income. Here we shall discuss deductions allowed for assessment […]

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