Saturday, June 25, 2016

Info for e-Filing at incometaxindia.gov.in


Deductions Under Chapter VI A
Description
S.No.
Section

C1.
80C
 Payment made towards life insurance policies (for self, spouse or children), superannuation/provident fund. Tuition fees paid to educate a maximum of two children. Construction or purchase of a residential property.
a fixed deposit with a minimum tenure of 5 years etc.
C2.
80CCC
Payment of premium for
annuity plan of LIC or
any other insurer upto Rs. 1,00,000
C3.
80CCD(1)
 Pension contribution made by self
C4.
80CCD(1B)
 Deduction up to Rs 50,000 for investment in NPS (National Pension Scheme) Tier 1 account.
C5.
80CCD(2)
  Pension contribution made by employer
C6.
80CCG
 For first time investors in the equity market. 50% tax deduction on Investments upto Rs. 50,000.
C7.
80D
(Maximum eligible amount is 25000. For Senior Citizen, it is 30000 )
 Deduction for Medical Insurance Premium
C8.
80DD
(Maximum eligible amount is 75000. For Severe Disability, it is 125000)
 Medical expenses of disabled dependent
C9.
80DDB
(Maximum eligible amount is 40000. For Senior Citizen, it is 60000 and Rs. 80.000 for Very Senior Citizen)
 Deduction for Treatment of Specified Disease
C10.
80E
Deduction for Interest on Education Loan
C11.
80G
 Donation to certain
funds, charitable
institutions etc.
C12.
80GG
Deduction for Rent Paid upto Rs. 60,000
C13.
80GGA
 Donation for scientific research or rural development
C14.
80GGC
 Donation to political parties by Individuals
C15.
80RRB
 Royalty income on patents upto Rs. 3,00,000
C16.
80QQB
 Royalty income of author upto Rs. 3,00,000
C17.
80TTA
Savings account interest up to Rs10,000
C18.
80U
(Maximum eligible amount 75000. For Severe Disability, it is 125000)
Deduction for disabled persons