Master chart for Deduction under Section 80C to 80U

Easy Chart for deduction u/s80C to 80U Rebate u/s 87ASectionDetails of deductionsQuantumRemarks80C (Individual & HUF)A. LIP of Spouse and Children and any member in case of HUFB. Deferred annuity, SPF, RPF, PPF, Superannuation Fund, NSC(8TH),5 years PO Time deposit, Senior citizen Saving Scheme, Term deposit of 5 years, Deposit for 10 or 15 years in Post office saving bank.C. Bonds of NABARD, Deposit scheme of NHB, Notified deposit scheme,.D. MF referred u/s 10(23D), Pension fund of MF[10(23D)], Eligible issue of securities. E. Cost of purchase or construction of residential house including repayment of loan and expenses on transfer of property, tution fees to any educational institutions for full time eduction of 2 childrens.Maximum Rs 1 ,00,000 is allowed(For 80c, 80ccc, 80ccd). Investment need not be from taxable income.No Dedcution Allowed: Terminates the insurance policy within 2 years, Terminate ULIP within 5 years, transfer house within 5 years Limit of eligible premium in case of insurance policy on life of disable person has been increased to 15 % instead of 10 % from FY 13-14. Max. 10% of the minimum amt assured under Life policies80CCC(Individual) Deduction in case of contribution to pension fund. However, it should be noted that surrender value or employer contribution is considered income.Maximum is Rs 1,00,000Aggregate of 80C 80CCC 80CCD is Rs 1,00,00080CCD(individual) Deduction in respect to contribution to new pension scheme. Employees of central and others are eligible.Maximum is sum of employer’s and employee’s contribution to the scheme limited upto 10 % of salary.Aggregate of 80C 80CCC 80CCD is Rs 1,00,00080CCE It should be noted that employer contribution is allowable as extra u/s 80CCD(2) of the Income Tax Act from Asst Yr 2012-13 and only employee's contribution is within limit of Rs 1 Lakh as stated in 80CCEIt should be noted that as per section 80CCE , the maximum amount of deduction which can be claimed in aggregate of 80C ,80CCC 80CCD(1) is Rs 1,00,000080CCG Individual having gross total income upto Rs 12 Lakh can claim this deduction for inveting in IPOs of share or mututal fund units.50 % 0f the invested amount . Limit is Rs 25,000 max.The deduction is allowed for three years only.80D(Individual &HUF)Medical insurance on self, spouse , children or parents. The deuction is also allowable for CGHS contribution to Cenral and State scheme. It is also for conducting health check up to Rs 6000.Age Below 60 years: Rs 15,000 including Rs. 5000 on preventive checkup for self , spouse children + Rs 15,000 for insurance on parents. Age above 60 years: Replace Rs 15,000 with 20,000.Cash payment not allowed. But for Preventive Checkup it is allowed.80DD (Individual &HUF)For maintenance including treatment or insurancing the lives of physical disable dependent relatives Rs 50,000 . In case disability is severe , the amount is Rs 1,00,000. dependent relatives includes spouse, child, parents, brother sister80DDB (Individual &HUF)For medical treatment of self or relatives suffering from specified diseaseAcutal amount paid to the extent of Rs 40,000. In case of patient being Sr Citizen , amount is Rs 60,000.Deduction reduced by the amount received under insurance from an insurer or reimbursed by an employer.80E(Individual)For interest payment on loan taken for higher studies(after 12) for self or education of spouse or childrenActual amount paid as interest and start from the financial year in which he /she starts paying interest and upto maximum of 8 years.loan from any financial institution banking or approved charitable institution80EEinterest on home loan sanctioned during Fy 2013-14. However, value of the property should be below Rs 50 Lakh and max loan sanctioned should be Rs 25 lakh. Further assessee should not have any other residential house.RS 1 lakh80G(All Assessee)Donations to charitable institution (Max. 10,000 if paid in cash from A/Y 13-14)100% of amount of donation made to 19 entities (National defense fund , Prime minister relief fund etc. ). 50% (Gandhi/ Drouhgt/ charitable purpose/infrastructural development fund). For Asst Yr 2014-15, Natital Children Fund will also get 100% deduction.Where the aggregateof sums exceed 10% of adjusted gross total income, then such excess amount is ignored for computing such aggregate.80GGFor rent paidThis is only for people not getting any House Rent Allowance. Maximum is Rs 2000 per month. Rule 11B is method of computation.80GGA For donation to entities in scientific research or rural development (Max. 10,000 if paid in cash from A/Y 13-14)Only those tax payers who have no business income can claim this deduction .Maximum is equivalent to 100 % of donation.Cash payment not allowed80GGB 80GGC For contribution to political parties100 % of donationsCash payment not allowed80QQB Allowed only to resident authors for royalty income for books other than text bookRoyalty income or Rs 3,00,000 whichever is less.80RRBFor income receipt as royalty on patents of resident individualsActual royalty or Rs 3,00,000 whichever is less.80UDeduction in respect of permanent physical disability including blindness to taxpayerRS 50,000 which goes to Rs 1,00,000 in case taxpayer is suffering from severe disability.87ARebate to individual having low taxable incomeAmount of tax or Rs 2,000 which ever is lessOnly resident individual gets this rebate.


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