Section 80C to Section 80U guide by H&R Block covers all details that you need to know about deductions that can be claimed while filing your. 4 days ago A complete guide on Income Tax deduction under section 80C, 80CCD, 80CCC. Section 80U – Tax Deduction for Disabled Individuals. Deduction Under Section 80C and 80U: Know more about income tax The extensive list of deductions that an individual can claim under Section 80C has.

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In order to encourage creation of new employment, it is proposed to extend this relaxation to footwear and leather industry.

Deduction under Section IB Section IB Assessees who have earned profits from hotels, shops, multiplex theatres, cold storage plants, housing project, scientific research and development, etc. Section 80EE along with section 80C can help you minimise your tax liabilities. Rajiv Gandhi Equity Scheme has been discontinued starting from 1 April PPF is very popular with its twin benefits of tax saving and long term secure investment.

I have made an 80C investment on 30 April Contributions are to be made in the form of cash, cheque or draft. Income tax deduction can be claimed on home loan interest.

Section 80 Deduction : Income Tax Deductions under Section 80C, 80CCD, 80CCC

Deduction under Section 80TTA Under section 80TTA offers a tax deduction on interest income earned from deposits held in savings accounts of some financial institutions. There is no limit on the amount of interest you can claim as deduction under section 80E.


If you plan your taxes carefully, you can easily maximise your tax savings. Knowledge Center Income Tax Guides Guides that help you file your taxes and help understand everything about tax calculations U. The taxpayer, spouse or minor child should not own residential accommodation at the place of employment. Deduction under Section 80U An individual suffering from disabilities himself is eligible for tax deductions under section 80U.

For a HUF, such deduction is available in respect of medical expenses incurred towards these prescribed ailments, for any of the members of the HUF. Investment made under equity scheme if gross total income does not exceed Rs 10 lakh.

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In addition to this, you will also be eligible to claim deduction of premium paid on deductionx policy taken for your senior citizen parents upto a maximum of Rs 50, this limit was Rs 30, until FY Payment or deposit to specified scheme for maintenance of dependent handicapped relative. Notify me of new posts by email.

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Deductions under section 80C to 80 U of Income Tax Act 1961 AY 2019-20 | FY 2018-19

Find out how you can claim deductions under section 80gg for rent paid. Know more on the procedure for PF transfer online. It has been proposed by finance bill that the upper limit of this increased deduction should be raised to Rs. Read our detailed article on Section 80DDB. The sum so deducted should not exceed one-fifth of the salary. Know about the tuition and fees deduction under section 80c. The tax payer must produce a certificate in the prescribed form duly signed by the concerned authority.


This section provides a deduction for expenses incurred towards medical insurance, deductione health checkup, and other medical expenses. dwductions

A glance of deductions available u/s 80C to 80U

Expenditure incurred on medical treatment including nursingtraining and rehabilitation of handicapped dependent relative b. The deduction can deductilns claimed maxim for 8 years. Section 80DDB is available for treatment of certain specified diseases with a limited amount of Rs 40, for people below 60 years of age and Rs 1,00, if the person treated, is a senior citizen.

Check out the conditions you must meet dedyctions avail this deduction for ay Section 80GGB Here deductions are allowed to Indian companies on funds donated to political parties or an electoral trust qualifying for such deductions.

List of deduction from total income u/s 80C to 80U – Goodreturns

The deduction is available for the taxpayer, spouse, dependent children, parent dependent or independent. It is a secure way to invest in mutual fund.

Find out the withdrawal limit and tax treatment on or before retirement and upon death of Subscriber. Deductions under Section 80C ]. Profits and gains of business or profession.