Tax Deduction

Tax Deduction

Deductions under Chapter VI (sec 80C to 80U)


SECTION  NATURE OF DEDUCTION LIMIT OF DEDUCTION
80C
  • Employees Provident Fund,
  • PPF, NSC;
  • Children's Education Fee (Tuition Fee only),
  • Insurance Premium,Deduction under Pension scheme,
  • Housing loan principal repayment,
  • ELSS Mutual Fund.
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  

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