CA FINAL/IPCC Direct Tax Notes | Shortcuts/Mnemonics, Notes & Classes

DIRECT TAX

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TIPS & TRICKS TO REMEMBER DT

*Trick to Remember Section 80 Deductions*

To solve this confusion to some extent, Here providing the list of Section 80 Deductions along with the Mnemonic code to remember them.

*Mnemonic Code for Section 80 Deductions:*

*Section No. Shortcut Code*

*80D* se dawai
*80E* se education
*80EE* extra enterest
*80G* se Garib gov. Ko donation
*80DD* dependent dukhi
*80DDB* dependent dukhi bimar
*80GGC* gadhe ghode (donation to politicial party) charao by foriegn co.
*80GGB* gadhe ghode (donation to politicial party) banao by indian
*80GG* ghar ghar
*80GGA* Gaav development with science
*80QQB* quality quality Books
*80RRB* royalty to resident
*80U* unstable person

*Section 80 Deductions Quick Revision Before Exam:*

*80C* [Contribution to PPF, LIC etc]
*80CCC* [Pension Funds] and 80CCD(1): Rs.1,50,000 
 _Deduction for the above two_
*80CCG* [Investment in Equity Savings]
50% of amount invested
Or
Rs.25,000
_Whichever is lower_
*80DD* [Maintenance and Medical Treatment of Disabled dependent]:
Flat Deduction of Rs.75,000 (In case of severe disability i.e., 80%, Deduction is Rs.1,25,000]
*80D* [Medical Insurance Premium]:
Rs.25,000 allowed (Rs.30,000 in case of senior citizen)
*80DDB* [Medical treatment for specified diseases]:
Rs.40,000 for Normal Individuals
Rs.60,000 for Senior Citizens
Rs.80,000 for Super Senior Citizens
*80E* [Interest on Educational Loan]:
Deduction allowed in Initial Assessment Year and 7 preceeding years.
*80G* [Donations]:
50% and 100% in different cases.
*80GG* [Rent]:
Least of the following is allowed as deduction-
25% of total income
Rent paid (-) 10% of Adjusted Income
Rs.5,000 per month
*80GGB* [Contribution to Political Parties]:
Actual contribution is allowed as deduction.
*80QQB* [Royalty Income] and
*80RRB* [Royalty on Patents]:
Least of Amount received or Rs.3,00,000 is allowed as deduction.
*80TTA* [Interest from Savings Account]:
Actual interst subject to a maximum of Rs.10,000
*80U* [Person with disability]:

Rs.75,000 for normal disability and Rs.1,25,000 for severe disability.



CA FINAL DIRECT TAX AMENDMENTS/SUMMARY/REVISION MATERIAL/CASE LAWS FOR NOV 17


CA Final Notes in.pdf format is provided below to help you revise & understand Direct Tax subject.
Relevant Case Studies are also shared with you that is expected in the examination.
This Case studies .pdf will be the one which is issued by ICAI for November 2017 attempt students.

QUICK REVISION MATERIAL

DIRECT TAX CASE STUDIES NOV 17

DIRECT TAX REVISION TEST PAPERS NOV 17

DIRECT TAX JUDICIAL UPDATES FOR NOV 17


More notes will be shared soon.