Easy chart of deductions u/s 80C to 80U every individual should aware of !

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Easy chart of deductions u/s 80C to 80U every individual should aware of !

income_tax_worry_deductionThe season of tax has arrived. Therefore , there is need for easy chart of all tax deduction u/s 80c to 80U for an Individual taxpayer?Under Income tax , deduction u/s 80C,80CCC, 80D, 80DD,80DDB,80G , 80GG, 80GGA, 80GGC , 80IAB , 80IB , 80IC , 80ID ,80IE , 80JJA , 80QQB ,80RRB , 80U  are relevant to Individuals depending on the condition fulfillment. The following chart of deductions will give instant and fair idea about certain deductions to individual tax payers. (section 80IAB to 80IE are not discussed which are specific to business men )

Easy Chart for deduction u/s80C to 80U & Rebate u/s 87A

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  • http://yahoo.com Ashish Singh Jadon

    Sir how can i tak information about income tax, vat, cst, excise duty, service tax and other tax please tell me sir its very important for my knowledge

  • Anonymous

    Murlidhar, thanks for pointing out ! Keep pointing out lik this , you are a Gem .

  • http://---- Dilip Sinkar

    I am Salaried Person. I understand Gift Given by me in cash/investment up to Rs. 200,000/- to my Parents & Dependant Major Child is deductable from my Income.
    Pls. adviced me quoting IT Section..

    • taxworry

      No deduction is given on gift to any relative whether parent or son.It also does not matter whether the said gift is given in cash or cheque. The only thing happens the the receipient relative will not be taxed,But no benefit so attached to donor.
      taxworry

  • BS Khurana

    Hi dear ; my Question is :

    My parents ( both father and mother ) are severely handicapped. i have few questions .
    1) They are depenent on me . How much and by what way i can claim tax deduction from my annual salary?
    2) what documents have to be submitted for the same

  • Anup Kumar Sen

    Sir,
    Pl.let me know the 80ccc deduction for the a.y. 2012-13

  • Mallikarjun Mudda

    pl can u provide me table for interset accured on NSC
    for claiming tax exemption

  • Sujit Talukder

    An insurance policy is taken by an individual and premium is paid by him for last three years. NOw he wants that his HUF, of whcih he is a member, to pay the premium. Whether HUF will get the dedcution u/s 80C for the payment of such premium?
    regards
    Sujit Talukder

  • Shruti

    My husband has taken a child plan for our daughter from LIC. I am paying the premium. My husband does not claim this. Can i claim deduction of this premium under 80C?
    Thanx

  • hemang shah

    i have taken lic policy of 50,000.for that i have paid full 50,000 premium.in this scheme my money would be doubled after 5 years. so what amt should i claim for deduction under section 80 c ?

    • praneetbajpaie

      Rs.20000 being 20% of the Sum Assured can be the maximum deduction that you can claim.

      • praneetbajpaie

        Actually it is Rs.10000, not Rs.20000

  • Nita Singh

    I am 66 years old and pay Rs 30000 as medical insurance premium for myself {Rs 13000 ) and for my husband ( 75 years Rs 17000 ). How much deduction can I claim u/s 80 D.

  • Maj Arvind Suhag

    Hi,
    Seems, the present exemtion limit under Section 80 U is 100,000 for disability more than 80%. Can anyone confirm or there are any changes in the present tax slabs.

    Thanks and Warm Regards,
    Maj AK Suhag

    • taxworry

      Thanks Major,
      You pointed out an important update !

      Keep pointing out .

      taxworry

  • Jayesh Kumar

    if I am not wrong, there’s another section, which is 80CCF, which is related to Long Term Infrastructure Bond.

  • http://pulse.yahoo.com/_XF4TV4HLE2AFJI326TQBR4ZIFQ Sneha Pawar

    sir if i m are investing in infrastructure bond may i have any deduction

    • Anonymous

      Yes, section 80CCF allows maximum Rs 20,000 deduction for infrastructure bond investments.

  • abhinand

    dear sir,

    i am doing my mba in correspondence course as i am a working professional, so can this mba fees paid by me through the income earned be deducted from the income tax as 80E says deduction will be only for the interest paid on loans for higher studies, can you please clear my doubt.

    Regards
    abhi

  • Epic Fails Guru

    From my experience it requires a 360 degree rewiring of our mind to really understand what our spouse is looking for to commit to improve(self-care) their health. I realized that I have to change the way I think,feel and act all the time to support her to commit. At last we are one team. Any suggestions?

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  • Manek Vimal

    Respected Sir,

    if Investment made upto due date of filling of return allowed as deduction in previous year ??

  • http://taxworry.com l b singh

    I have taken housing loan from sbi bank.I want to take exemption on income tax on housing loan interest .I want to know ,under which section (80c to 80u) it can be shown.

  • SRIKANTH CA

    Deduction u/s. 80C for tuition / school / education fees?

  • som rajan

    I reproduce excerpts from LIC website and Incometax India website on deduction u/s 80C on lic premia:
    The following sub-section (3A) shall be inserted after sub-section (3) of section 80C by the Finance Act, 2012, w.e.f. 1-4-2013 :
    (3A) The provisions of sub-section (2) shall apply only to so much of any premium or other payment made on an insurance policy, other than a contract for a deferred annuity, issued on or after the 1st day of April, 2012 as is not in excess of ten per cent of the actual capital sum assured.
    1) Deduction allowable from Income for payment of Life Insurance Premium (Sec. 80C).

    (a) Life Insurance premia paid in order to effect or to keep in force an insurance on the life of the assessee or on the life of the spouse or any child of assessee & in the case of HUF, premium paid on the life of any member thereof under an insurance policy , ( other than a contract for a deferred annuity,) issued on or before the 31st day of March 2012 shall be eligible for deduction only to the extent of 20% of the actual capital sum assured.

    (b) Life Insurance premia paid in order to effect or to keep in force an insurance on the life of the assessee or on the life of the spouse or any child of assessee & in the case of HUF, premium paid on the life of any member thereof , under an insurance policy , ( other than a contract for a deferred annuity,) issued on or after the 1st day of April 2012 shall be eligible for deduction only to the extent of 10% of the actual capital sum assured.
    As per lic people policy holder can claim deduction to the extent of 10%, if the annual premium exceeds 10% of sum assured. Is this a correct interpretation?

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