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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Ydeduction of Rs 5, is allowed for preventive health care check up within the existing limit. Time limits stated under section Deudction 4 iv have been extended from to With effect from the scope of expression ‘relative’ has also been enlarged to cover the student for whom the taxpayer is the legal guardian.

Citizen, I got all the information I wanted to calculate my incometax, from this website. Deduction is allowed for the actual bill paid or up to maximum limit i.

Whether any relief is available to pensioners of 60 years age under sec88 b N K Kacker. Lock in period is 3 years. If yes How can I claim this benefit? September 11, at 6: I have purchased a new LIG flat in Ghaziabad. Rao on Rental Income? Gross qualifying Amount which is the aggregate of the following… Life Insurance Premium Payment in respect of non-commutable deferred annuity.

I was working with a bank and I got my money on relieving and i have saved it in bank as fixed deposit. August 28, at This section is not applicable on interest income from fixed deposit Section 80U Deduction of Rs 75, revised from Rs 50, can be claimed by 8c0 who is suffering from physical disability.

Rebate u/s 87A of the Income Tax Act » Sensys Blog.

RS July 17, at 1: Gross qualifying Amount which is the aggregate of the following…. Deduction of Rs 75, revised from Rs 50, can be claimed by individual who is suffering from physical disability. The visitors may click here to visit the web site of Income Tax Department for resolving their doubts or for clarifications. You should take consultant help.


All efforts are made to keep the content of this site correct and up-to-date. Deduction in respect of rents paid, provided the assessee is not in receipt of HRA and 201-13 house is owned by self, spouse, minor child or HUF in the place of work subject to filing of declaration in Form No.

Another agriculture land urban or rural. Can I get any tax benefit for these charges?

Income from Other Sources except if exempt. 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. No you can not claim PF deducted this year but related to previous year S 89 1 relief is available only on notional basis.

Chapter VI-A: Section 80C to 80U to save Income Tax

Premium up to Rs. It should be noted that mode of payment should be other than cash to get the tax benefit under this section. Deduction in respect of certain undertakings in North Eastern States. Can the interest of this loan taken for the deduction from gross income for income tax calculation?

Any income by way of Ujder from company, Income received in respect of units from the Unit Trust of India, Income received in respect of the units of a mutual fund are exempt. If a person who secttion required to quote his Permanent Account Number 800u to do so or intimates or quotes false number which he either knows or believes to be false or does not believe to be true, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of Rs.


If any amount, including interest accrued thereon, is withdrawn by the assessee from his deposit account made under a Senior Citizen Saving Scheme or b Post Office Time Deposit Ceduction, before the expiry of the period of five years from the date of its deposit, the amount so withdrawn shall be deemed to be the deducrion of the assessee of the previous year in which the amount is withdrawn and shall be liable to tax in the assessment year relevant to such previous year.

Deduction Under Section 80 C to 80 U ( How to Find Out)

Donation of any sums paid by the assessee, being a company, in the previous year as donations to the Indian Olympic Association or to any other association or institution established in India, as the Central Government may, having regard to the prescribed guidelines, by notification in the Official Gazette, specify in this behalf for—.

All assessees, other than local authority and artificial juridical person wholly or partly funded by Government. Can i get the whole 1Lakh under Section 80C? Section 08u EE Maximum deduction of Rs 1, 00, is allowed against the home loan interest.

Amount paid in any mode other than cash by an individual or HUF to LIC or other insurer to effect or keep in force an insurance on the health of specified person. Arrear of Salary and relief under section 89 1. Incidentally, I resigned from my last service in October and at present is unemployed.

As I am eligivble to exemption limit ofI want to submit my tax returns electronically, but I am unable to find deductionn to include the pension received subsequent to retirement in the ITR 2 form.