As per the new Finance Budget 2015-16 the some Income Tax Section limit has raised.Given below the all of Income Tax Deduction Under Chapter VI A including the 80C as per the Finance Budget 2015-16.
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| DEDUCTIONS UNDER CHAPTER VI A FOR F.Y.2015-16 | |||
| No. | Section | Particulars | Deduction Limit |
| 1 | 80C | Deduction in respect of Investment in specifies assets | 150000/- |
| 2 | 80CCC | Deduction in respect of contribution to certain pension funds | 150000/- |
| 3 | 80CCD | Deduction in respect of contribution to pension scheme of Central Govt. | 150000/- |
| 4 | 80CCE | Limit on deduction under sections 80C,80CCC,80CCD(1) | 150000/- |
| 5 | 80D | Deduction in respect of medical insurance premium | Individual:25000/- Senior Citizen:30000/- |
| 6 | 80DD | Deduction
in respect of maintenance including medical treatment of a disabled person |
Severe
Disability:100000/- Others:60000/- |
| 7 | 80DDB | Deduction in respect of medical treatment | Individual:60000/- Senior Citizen:80000/- |
| 8 | 80E | Deduction in respect of interest on loan taken for higher education | Actual Interest |
| 9 | 80EE | Additional
deduction in respect of interest on loan taken for residential house property |
Rs. 100000/- |
| 10 | 80G | Deduction in respect of Donations to Certain Funds, Charitable Institutions | 50% or 100% |
| 11 | 80GG | Deduction in respect of Rent paid | Lower
of the following: i)Actual Rent paid-10% of the total income ii)25% of total income iii)2000 per month |
| 12 | 80U | Deductions in the case of a person with disability | Severe
Disability:125000/- Others:75000/- |
| 13 | 80TTA | Deduction in respect of interest on deposits in savings account | Rs.10000 |
| 14 | 87A | Tax Rebate Rs. 2000/- who's taxable income below Rs. 5 Lakh | Rs.2000/- |
