| Section | Eligible assessee | Conditions | Deduction |
| 80CCG | Resident individual (Not NRI) | New investors who invest under equity scheme if gross total income does not exceed Rs10 lakh | 50% of amount invested in equity shares, restricted to Rs25,000 |
| 80D | Individual / HUF | Medical insurance premium paid for self, spouse, or dependent children | Maximum Rs15,000 and Rs20,000 in case of senior citizen |
| 80DD | Resident individual / resident HUF | For maintenance, including treatment, or insurance of physically disabled dependent relatives | Rs75, 000 in case of normal disability and Rs1.5 lakh in case of a severe disability |
| 80DDB | Resident individual / resident HUF | Medical treatment expenses for himself or dependent or a member of HUF (in case of HUF assessee) | Actual expense or Rs40,000 (Rs60,000 in case of senior citizen) |
| 80E | Individual | For interest payment on loan taken for higher studies for self or education of spouse or children | Entire amount of interest (not principal) is deductible for a maximum of eight years and can avail a maximum deduction of Rs3 lakh |
| 80G | All assessees | Donations to charitable institutions | 100% or 50% of amount of donation made (Refer Income Tax Site for Detailed Info) |
| 80GG | Individual (who does not get HRA) | For rent paid | Least of the following:
Rs2,000 per month
25% of total income
Rent paid less 10% of total income |
| 80GGC | All assesses, other than Indian companies | Contribution given to political parties | Sum contributed to political parties |
| 80TTA | Individual/HUF | Interest on savings account (Not time deposits or fixed deposits) | Maximum is Rs10,000 |
| 80U | Individual/HUF | Only for taxpayer and not for dependents i.e. spouse, children, etc. | Rs75,000 which goes to Rs1.25 lakh in case taxpayer is suffering from severe d |
No comments:
Post a Comment