sections 80C to 80U. • However, the Condition (s). The maximum amount deductible under section 80C, 80CCC, TO A.Y. Qualifying. Under Section 80C, deduction would be available from Gross Total Income. . referred to insection 80U or suffering from disease or ailment specified in section . during the previous years relevant to assessment year or Chapter VI-A of Indian Income Tax Act deals with these deductions. For financial year (Assessment Year ), following are few important.
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Contribution to Central Government Pension Schemes. Amount paid in any mode other than cash by an individual or HUF to LIC or other insurer to effect or keep undee force an insurance on the health of specified person. Deduction is limited to whole of the amount paid or deposited subject to a maximum of Rs.
I know SIP investment is tax free. Any sum paid as Tuition Fees for full time education of any 2 children of an individual. The additional deduction is not subject to ceiling limit of Rs.
Who can claim exemption. Your email address will not be sold aay shared with anyone else. IT at a Glance.
January 21, at Medical expenditure if no amount is paid in respect of health insurance-Rs. Anonymous July 25, at 7: It should be noted that donation should not be made in cash. Deduction is allowed for the actual bill paid or up to maximum limit i. Profits and gains derived by an undertaking or an enterprise in special category States Himachal Pradesh, Uttaranchal, Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland and Tripura subject to certain limits, time limits and conditionsa which has begun or begins to manufacture or produce any article or thing, not being any article or thing specified in the Thirteenth Schedule, or which manufactures or produces any article ynder thing, not being any article or thing specified in the Thirteenth Schedule and undertakes substantial expansion during the specified period.
All assessees dedution having ro income chargeable 8u0 the head ‘Profits and gains of business or profession’. I have also investments in shares and i have been filing itr2 regularly. A person shall be treated as having acquired any shares or debentures on the date on which his name is entered in relation to those shares or debentures in the register of members or of debenture-holders, as the case may be, of the public company.
Assessee can claim deduction on income by way of royalty on registered patents. N K K August 1, at Deduction of Rs 75, revised from Rs 50, can be claimed by individual who is suffering from physical disability.
However in such policies ,maturity -premium amount will be taxable in your hands. Donation to certain funds, charitable institution etc is allowed to be deducted as specified in section 80G.
Chapter VI-A: Section 80C to 80U to save Income Tax
As your age is 60 year during the financial yearYou are eligible to claim 2. Anonymous August 21, at This maximum limit of Rs. I run my own clinic in Delhi. All efforts are made to keep the content of this site correct and up-to-date. Deduction up to Rs 40, can be claimed 800u expenditure incurred on self or dependent for the medical treatment of specified disease or ailment.
Rebate u/s 87A of the Income Tax Act » Sensys Blog.
Interest income of up to 10, from saving accounts can be claimed for deduction. PAN is essential for processing the Return of Income and for giving credit for taxes paid. Section 80D is amended by the Finance Act, You should take consultant help.
I have given 15 G to bank for my Fixed deposit. The dedduction may click here to visit the web site of Income Tax Department for resolving their doubts or for clarifications. If individual or spouse is more than 60 years of age, the limit is Rs 30, revised from 20, With effect from the assessment year section 80CCE is amended so as to provide that contribution made by the Central Government or any other employer to a pension scheme under sub-section 2 of section 80CCD shall not be included in the limit of deduction of Rs.
You have to total pension plus salary income and fill it in sr no 1 in itr Individuals not receiving any house rent allowance. First if you have only secyion income and interest income then you should go for ITR Can u guide me. In the case of an assessee being a company, which is required to furnish a report referred to in section 92E Transfer Pricingthe due date is 30th November of the assessment year.