Deductions under Chapter VI (sec 80C to 80U)
SECTION | NATURE OF DEDUCTION | LIMIT OF DEDUCTION |
80C |
|
Rs. 1,50,000 |
80CCD | NPS (National Pension Scheme) | Rs. 50,000 |
80CCG | RGESS (Rajiv Gandhi Equity Saving Scheme) | Least of 50% of amount invested or Rs. 25,000 |
80D | Payment towards Medical Insurance Premium | Rs. 25,000 for self,spouse and children & Rs.30,000 for Parents |
80DD | Medical treatment for handicapped dependents | |
80DDB | Medical for specified diseases | |
80E | Education Loan Interest Repayment | |
80G | Donation to approved fund and charities | |
80GG | Rent deduction only if HRA not received | |
80TTA | Saving interest | |
80U | Deduction for permanent disability | |
87A | Rebate of Rs.2000 for individual havin total income Upto Rs.500000 | Rs.2000 |
80QQB | Royalty |