chapter VI A Deductions
80C
150000
80CCD
pension scheme
80CCD(1)
Payments made towards Atal Pension Yojana or other pension schemes notified by government
Employed: 10% of basic salary + DA
Self-employed: 20% of gross total income
80CCE
Total deduction under Section 80C, 80CCC, 80CCD(1)
Rs 1,50,000
80CCD(1B)
Investments in NPS (outside Rs 1,50,000 limit under Section 80CCE)
Rs 50,000
80CCD(2)
Employer’s contribution towards NPS (outside Rs 1,50,000 limit under Section 80CCE)
Central government employer: 14% of basic salary +DA
Others: 10% of basic salary +DA
80U
Disabled Individuals
Individuals
Normal Disability: Rs. 75,000/-
Severe Disability: Rs. 1,25,000/-
sec 80 ttb
Interest Income earned on deposits(Savings/ FDs)
Individual (60 yrs or above)
Upto Rs 50,000/-
80TTA
Interest earned on Savings Accounts
sec 80QQB
Royalty Income of Authors
Individuals (Indian citizen or foreign citizen being resident in India)
Rs.3,00,000/-
Or
Specified Income
- whichever is lower
sec 80 RRB
Royalty on Patents
Individuals (Indian citizen or foreign citizen being resident in India)
Rs.3,00,000/-
Or
Specified Income
- whichever is lower
sec 80GGC
Individuals on contribution to Political Parties
Individual,HUF,AOP,BOI,Firm
100% of the amount contributed.
No deduction available for the contribution made in cash
sec 80GGB
Contribution to Political Parties
Companies
100% of the amount contributed
No deduction available for the contribution made in cash
80GGA
Donation to Scientific Research & Rural Development
*All assessees except those who have an income (or loss) from a business and/or a profession*
100% of the amount donated.
Allowed donation in cash upto Rs.2000/-
sec 80GG
Income Tax Deduction for House Rent Paid
Individual
Rs. 5000 per month
25% of Adjusted Total Income
Rent paid - 10% of Adjusted Total Income
- whichever is lower
sec 80G
Donation to specified funds/institutions. Institutions
All Assessee (Individual, HUF, Company, etc)
100% or 50% of the Donated amount or Qualifying limit,
Allowed donation in cash upto Rs.2000/-
80EEB
Interest paid on Electric Vehicle Loan
Individual
Upto Rs 1,50,000 subject to some conditions
80EEA
Interest Paid on Housing Loan
Individual
Upto Rs 1,50,000/- subject to some conditions
80E
Interest paid on Loan taken for Higher Education
Individual
No limit (Any amount of interest paid on education loan)upto 8 assessment years
80DDB
Medical expenditure for treatment of Specified Diseases
Individual
Or
HUF
Senior Citizens: Upto Rs 1,00,000
Others: Upto Rs 40,000
sec 80DD
Medical Treatment of a Dependent with Disability
Individual
Or
HUF
Normal Disability (atleast 40% or more but less than 80%): Rs 75000/-
Severe Disability (atleast 80% or more) : Rs 125000/-