INCOME TAX – SECTION 80 DEDUCTION TABLE

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SectionDeduction OnAllowed Limit
80 Ci)   Investment in PPF
ii) NSC
iii) VLTRS
iv) LIC Premium
v) Children Tuition Fees
vi) Principal prepayment of Home Loan
vii) Investment in Sukanya Samridhi
viii) SSSC
ix) ELSS
x) Five year deposit Scheme
xi) Subscription to Equity shares/debentures (notified bonds of NABARD
xii)  Annuity Plan of LIC




Rs 1,50,000
80 CCCFor amount deposited in annuity
plan of LIC or any other insurer for a pension from a fund referred to in section 10 (23 AAB)
80 CCO (1)Employee Contribution to NPS account (max upto Rs 1,50,000)
80 CCO (2)Employee Contribution to NPS AccountMax upto 10% salary
80 CCO (1B)Additional Contribution to NPSRs. 50,000
80 TTA (G)Interest Income from Saving AccountMax upto 10,000
80 TTBExemption of Interest from banks post office etc applicable only to senior citizensMax 50,000
80 GGFor rent paid when HRA not received from employerLast of : – rent paid income 10% of total income
Rs 55000/month
80 EInterest on education Loan interest paid upto 8 Lacs25% of total income
80 EEInterest on Home Loan for first time Home ownerRs 50,000
80 CCGRajiv Gandhi Equity Scheme for investments in EquitiesLower of 50 % amount or Rs 25,000
 

80 D

Medical Insurance – Self , spouse, Children
 
Medical insurance – Parents more than 60 yrs or uninsured parents more than 80 yrs of age
Rs 25,000
 
Rs 50,000

80 DDD
Medical treatment for handicapped dependents or payment to specified scheme for maintenance fo handicapped dependents
·         Disability is 40 % or more but less than 80 %
·         Disability is 80 % or more
Rs 75,000
Rs 1,25,000
80 DDB
Medical Expenditure or self or Dependents or relative for disceases specified in Rule 1100
·         For less than 60 yrs old
·         For more than 60 yrs old
 
Lower of Rs 40000 or amount naturally paid
 
Lower fo Rs 100000 or amount actually paid
80 USelf-Suffering from disability
·         An individual suffering from a physical disability (in blindness) or mental retardation
An individual suffering from lower disability
Rs 75,000
 
Rs 1,25,000
80 GGBContribution by companies to political partiesAmount contributed (not allowed if paid in cash)
80 GGCContribution by individual to political partiesAmount contributed (not paid in cash)
80 RRBDeductions or income by way of royalty of a patentLower of Rs 2,00,000 or income received

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