Section 80C
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For investments in specified schemes, saving instruments etc.
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Exemption
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Up to 1,50,000 (Subject to overall limit of ₹ 1,50,000 under Section 80C, 80CCC and 80CCD)
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Available to
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Individual and HUF
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Available for
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1. Life insurance premium for policy:
a) in case of an individual, on the life of assessee, assessee's spouse and any child of assessee b) in the case of HUF, on a life of any member of the HUF
2. A sum paid under a contract for a deferred annuity:
a) in case of an individual, on the life of the individual, individual's spouse and any child of the individual (however, a contract should not contain an option to receive a cash payment in lieu of annuity) b) in the case of HUF, on a life of any member of the HUF
3. Sum deducted from the salary payable to Government servant for securing deferred annuity or making provision for his wife/children [qualifying amount limited to 20% of salary]
4. Contributions by an individual made under Employees' Provident Fund Scheme
5. Contribution to Public Provident Fund Account in the name of:
a) in case of an individual, such individual or his spouse or any child of such individual b) in the case of HUF, in the name of any member thereof
6. Contribution by an employee to a recognized provident fund
7. Contribution by an employee to an approved superannuation fund
8. Subscription to any notified security or notified deposit scheme of the Central Government.
For this purpose, Sukanya Samriddhi Account Scheme has been notified vide Notification No. 9/2015, dated 21/1/2015. Any sum deposited during the year in Sukanya Samriddhi Account by an individual would be eligible for deduction. The amount can be deposited by an individual in the name of her girl child or any girl child for whom such an individual is the legal guardian.
9. Subscription to notified savings certificates [National Savings Certificates (VIII Issue)]
10. Contribution for participation in unit-linked Insurance Plan of UTI:
a) in case of an individual, in the name of the individual, his spouse or any child of such individual b) in the case of a HUF, in the name of any member thereof
11. Contribution to notified unit-linked insurance plan of LIC Mutual Fund:
a) in the case of an individual, in the name of the individual, his spouse or any child of such individual b) in the case of a HUF, in the name of any member thereof
12. Subscription to notified deposit scheme or notified pension fund set up by National Housing Bank [Home Loan Account Scheme/National Housing Banks (Tax Saving) Term Deposit Scheme, 2008]
13. Tuition fees (excluding development fees, donations, etc.) paid by an individual to any university, college, school or other educational institution situated in India, for full-time education of any 2 of his/her children
14. Certain payments for purchase/construction of residential house property
15. Subscription to notified schemes of (a) public sector companies engaged in providing long-term finance for purchase/construction of houses in
16. Sum paid towards notified annuity plan of LIC or another insurer
17. Subscription to any units of any notified [u/s 10(23D)] Mutual Fund or the UTI (Equity Linked Saving Scheme, 2005)
18. Contribution by an individual to any pension fund set up by any mutual fund which is referred to in section 10(23D) or by the UTI (UTI Retirement Benefit Pension Fund)
19. Subscription to equity shares or debentures forming part of any approved eligible issue of capital made by a public company or public financial institutions
20. Subscription to any units of any approved mutual fund referred to in section 10(23D), provided the amount of subscription to such units is subscribed only in 'eligible issue of capital' referred to above.
21. Term deposits for a fixed period of not less than 5 years with a scheduled bank, and which is in accordance with a scheme framed and notified.
22. Subscription to notified bonds issued by the NABARD.
23. Deposit in an account under the Senior Citizen Savings Scheme Rules, 2004 (subject to certain conditions)
24. 5-year term deposit in an account under the Post Office Time Deposit Rules, 1981 (subject to certain conditions)
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Section 80CCD(1)
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Deduction for assessee's contributions to pension scheme of Central Government
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Exemption
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10% of salary in case of employees
10% of gross total
income in case of others
(Subject to the overall limit of ₹ 1,50,000 under Section 80C, 80CCC and
80CCD(1))
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Available to
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Individual
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Section 80CCD(1B)
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Deduction for the deposit under a pension scheme notified by Central Government (NPS)
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Exemption
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Up to ₹ 50,000. This deduction shall be in addition to deduction
of ₹ 1,50,000 under Section 80C, 80CCC and 80CCD(1)
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Available to
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Individual
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Section 80CCD(2)
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Deduction for employer's contributions to a pension scheme
notified by Central Government
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Exemption
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Up to 10% of salary
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Available to
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Individual
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Section 80 CCG
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Amount invested in listed shares
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Exemption
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Deduction of 50% of total investment subject to maximum
of ₹ 25,000 is allowed for 3 consecutive assessment years,
beginning with the assessment year relevant to the previous year
in which the listed shares or list units of equity oriented funds are
first acquired
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Available to
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Specified Resident Individual - A resident individual whose gross
total income for the relevant assessment year is not more
than ₹ 12 lacs.
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Amendment
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No deduction under section 80CCG shall be allowed from assessment
the year 2018-19. However, an assessee who has claimed a deduction
under this section for the assessment year 2017-18 and earlier
assessment
years shall be allowed deduction under this section till the
assessment
the year 2019-20 if he is otherwise eligible to claim the deduction
as per the
provisions of this section.
This amendment will take effect from the 1st April, 2018 and shall
accordingly, apply in relation to the assessment year 2018-19 and
subsequent years.
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Details
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Amount invested by specified resident individuals in listed shares or
listed units in accordance with the notified scheme for a lock-in period
for 3 years (Subject to certain conditions).
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Section 80D
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Amount invested in Health Insurance
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Exemption
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In case of Individual, amount paid:
a) For self, spouse and dependent children: Up to ₹ 25,000 [₹ 50,000 if
specified person is a senior citizen or very senior citizen for
AY 2019-20 ( ₹ 30,000 for AY 2018-19)]
b) FFor parents: additional deduction of Rs. 25,000 shall be allowed
[Rs. 50,000 if parent is a Senior citizen / Very Senior Citizen
( ₹ 30,000 for AY 2018-19) ]
In case of HUF, up to ₹ 25,000 (₹ 50,000/- ( ₹ 30,000/- for AY 2018-19 )
if specified person is a senior citizen or very senior citizen).
The aggregate amount of deduction cannot exceed ₹ 1,00,000/- for
AY 2019-20 ( ₹ 60,000 for AY 2018-19 ) in case of
an
individual
and ₹ 50,000/- for AY 2019-20 ( ₹ 30,000 for AY 2018-19 ) in case of HUF. |
Available to
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Individual / HUF
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Details
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Amount paid (in any mode other than cash) by an individual or HUF to
LIC or another insurer to effect or keep in force an insurance on the health of
specified person*. An individual can also make payment to the Central
Government health scheme and/or on account of preventive health check-up.* specified person means: - In case of Individual - self, spouse, dependent children or parents - In case of HUF - Any member thereof Note: 1. Deduction for preventive health check-up shall not exceed in aggregate 2. Payment on account of preventive health check-up may be made in cash. 3. Within overall limit, the deduction shall also be allowed up to ₹ 30,000 towards medical person an insurance on the health of such person. 4. 'Senior citizen' means an individual resident in 5. 'Very senior citizen' means an individual resident in
of eighty years or more at any time during the relevant previous year.
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Section 80DD
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Expenditure incurred for the medical treatment of a dependent
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Exemption
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₹ 75,000 (₹ 1,25,000 in case of severe disability)
Note: "dependant" means - (i) in the case of an individual, the spouse, children, parents, brothers and
sisters of the individual or any of them;
(ii) in the case of a HUF, any member thereof, dependant wholly or mainly
on such individual or Hindu undivided family for his support and maintenance,
and who has not claimed any deduction under section 80U in computing
his total income for the assessment year relating to the previous year.
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Available to
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Resident Individual and HUF
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Details
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a) Any expenditure incurred for the medical treatment (including nursing),
traing and rehabilitation of a dependent, being a person with a disability
b) Any amount paid or deposited under an approved scheme framed in
this behalf by the LIC or any other insurer or the Administrator or the specified company for the maintenance of a dependent, being a person with a disability
(Subject to certain conditions). |
Section 80DDB
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Expenditure incurred for medical treatment of specified diseases
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Exemption
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Up to ₹ 40,000 and ₹ 1,00,000 for Senior / Very Senior Citizen
( ₹ 60,000/- for Senior Citizen and ₹ 80,000 for Very Senior Citizen up to 31st
March 2017)
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Available to
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Resident Individual and HUF
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Details
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Expenses actually paid for medical treatment of specified diseases
and ailments for:
a) In case of Individual: Assessee himself or wholly dependent spouse,
children, parents, brothers, and sisters
b) In case of HUF: Any member of the family who is wholly dependent
upon the family
(Subject to certain conditions). |
Section 80E
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Interest paid on Educational Loan
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Exemption
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The amount of interest paid during the initial year and 7 immediately
succeeding assessment years (or until the above interest is paid in full).
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Available to
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Individual
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Details
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Amount paid out of income chargeable to tax by way of payment of interest
on loan is taken from financial institution/approved charitable institution for
pursuing higher education (Subject to certain conditions).
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Section 80EE
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Interest on loan for acquiring residential house property, sanctioned
during FY 2016-17
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Exemption
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Deduction of up to ₹ 50,000 towards interest on the loan.
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Available to
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Individual
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Details
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Interest payable on loan was taken up to ₹ 35 lakhs by a taxpayer from
any a financial institution, sanctioned during the FY 2016-17, for the
purpose of acquisition of a residential house property whose value
doesn't exceed ₹ 50 lakhs.
Note:1. On the date of sanction of the loan, the taxpayer should not own any other residential house property.
2. The deduction is available from Assessment Year 2017-18 and
subsequent assessment years.
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Section 80G
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Deduction for donations to certain funds, charitable institutions, etc.
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Exemption
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Deduction upto 100% / 50% of the aggregate amount of donation.
For details please refer setion 80G of Income Tax Act.
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Available to
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All assessees
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Section 80GG
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Rent paid for residential accommodation
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Exemption
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Least of the following shall be exempt from tax:
a) Rent paid in excess of 10% of total income*; b) 25% of the Total Income; or c) ₹ 5,000 per month. * Total Income = Gross total income minus long term capital gains, short-term capital
gains under section 111A, deductions under sections 80C to 80U (other than 80GG)
and income under section 115A
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Available to
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Individual not receiving HRA
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Details
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Rent paid for furnished/unfurnished residential accommodation
(Subject to certain conditions)
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Section 80QQB
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Royalty income of books
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Exemption
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Least of the following shall be exempt from tax:
a) In case of Lump sum payment - Amount of royalty income subject
to the maximum of ₹ 3,00,000
b) In other cases -the amount of such income subject to a maximum of
15% of the value of books sold during the previous year.
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Available to
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Resident Individual Authors
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Details
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Royalty income of authors of a certain specified category of books
other than text books
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Section 80RRB
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Royalty of patents
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Exemption
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100% of royalty subject to a maximum of ₹ 3,00,000
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Available to
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Resident Individual - Patentee
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Details
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Royalty in respect of patents registered on or after 01.04.2003
(subject to certain conditions)
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Section 80 TTA
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Interest on Savings Bank accounts
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Exemption
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100% of the amount of such income subject to a maximum of ₹ 10,000
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Available to
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Individual and HUF (w.e.f. 01.04.2018 not available to Senior / Very Senior
Citizens)
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Details
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Interest on deposits in saving account with a banking company, a
post office, co-operative society engaged in banking business, etc.
(Subject to certain conditions)
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Section 80 TTB
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Interest on deposits with Post Offices, Banks, Co-operative banks
(w.e.f. 01.04.2018)
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Exemption
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100% of the amount of such income subject to a maximum of ₹ 50,000
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Available to
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Senior Citizen Resident Individual and HUF
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Details
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Interest on deposits in saving account with a banking company,
a post office, co-operative society engaged in banking business, etc.
(Subject to certain conditions)
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Section 80U
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Persons with Disability
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Exemption
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₹ 75,000 (₹ 1,25,000 in case of severe disability)
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Available to
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Resident Individual
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Details
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A resident individual who, at any time during the previous year, is certified
by the medical authority to be a person with a disability [as defined under
Persons with Disabilities (Equal Opportunities, Protection of Rights and Full Participation)
Act, 1995]
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Section 16(ia)
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Standard Deduction
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Exemption
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₹ 40,000 in lieu of Transport allowance and Reimbursement of Misc.
Medical Expenditure
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Available to
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Salaried Tax Payers w.e.f. 01.04.2018
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