|
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
|
Saturday, June 25, 2016
Info for e-Filing at incometaxindia.gov.in
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