These Deductions are not eligible for Taxpayers opting New Regime u/s 115BAC , except u/s 80CCD(2), 80CCH
Under 80C - Life Insurance Premium , Provident Fund, Subscription to certain equity shares, Tution Fees, National Savings Certificate (NSC),Housing Loan Principal
80CCC -Annuity Plan of LIC or other insurer towards Pension Scheme
80CCD(1)- Central Govt Pension Scheme
80CCD(1B)
Maximum Limit of 50,000 - Central Govt Pension Scheme excluding 80CCD(1
*80CCD(2)-applicable for Old and New Tax Regime
Deduction made by employer towards Central Govt Pension Scheme
10% of Salary If Employer is a PSU or others
----OR----
14% of Salary If Employer is Central or State
*80CCH-applicable for Old and New Tax Regime
Deduction with respect towards Agnipath Scheme
On Computation Of Total Income, A Whole of amount paid or deposited towards Corpus is exempted -If Assesse enrolled in Agnipath scheme and Subscribing to Agnipath Corpus Fund on or after 1st Nov, 2022 and deposit made in previous year
----OR----
On Computation Of Total Income, A Whole of amount contribution by Central Govt towards Corpus is exempted -When Central Govt Made payment towards Agniveer Corpus Fund on the account of assesse.
80D
Health Insurance Premium and Preventive Health Check Up
25,000 - Self /Spouse /Dependent Children
50,000 - if any person is Senior Citizen
5,000 - For Preventive Health Check Up included in the above Limit
----OR----
25,000 - For Parents
50,000 - if any person is Senior Citizen
5,000 - For Preventive Health Check Up included in the above Limit
----OR----
Towards Medical Expenditure if No Premium on Health Coverage is Paid
50000 - Self /Spouse /Dependent Children
50000 - For Parents
80DD
Deduction towards payments made towards Medical treatment of Disabled Dependant / paid or deposited any amount
75,000 - Person with disability irrespective of income incurred
----OR----
125,000 - Severe Disability (>80%)
80DDB
Deduction towards payments made towards Medical treatment for specified diseases
40000 - Self/Spouse/Dependant Children
----OR----
100000 - Senior Citizen
80E
Total amount paid towards interest on Loan Taken - Deduction towards interest payments made on loan for Higher Education of Self or relative
80EE
Deduction limit of 50,000 on the interest paid on loan taken - Deduction towards interest payments made on loan taken for acquisition of residential house property where the loan is sanctioned between 1st April 2016 to 31st March 2017
80EEA
Deduction limit of 1,50,000 on the interest paid on loan taken - Deduction towards interest payments made on loan taken for the first time on acquisition of residential house property where the loan is sanctioned between 1st April 2019 to 31st March 2022 , Deduction should not have been claimed u/s 80EE
80EEB
Deduction limit of 1,50,000 on the interest paid on loan taken - Deduction towards interest payments made on purchase of Electric Vehicle where loan sanctioned between 1st April 2019 to 31st March 2023
80G
Deduction towards Donations made to prescribed Funds, Charitable Institutions, etc. Donation are eligible for deduction under the below categories( No Deduction is eligible if amount paid in cash exceeds 2000)
100% Deduction / 50% Deduction - Without Any Limit
100% Deduction / 50% Deduction - Subjected to qualifying Limit
80GG
Deduction towards rent paid for house & applicable to only those who are self-employed or for whom HRA is not part of Salary
(Form 10BA is Mandatory for Claim) Least of the following shall be allowed as deduction
1.5000 per month
2.Rent paid reduced by Total Income before this deduction
3.Rent paid reduced by Total Income before this deduction of 5,000 per month 25% of Total Income (excluding long term capital gains, short term capital gains under section 111A or income under section 115A or 115D)
80GGA
Donation towards Scientific Research and Rural Development
- No deduction shall be allowed under this Section in respect of donation made in cash exceeding 2000/- or if Gross Total
- Income includes income from Profit / Gains of Business / Profession
- Funds notified by Central Government for
- Afforestation
- Rural Development
- Research Association or University, College or other Institution for- Scientific Research ,Social Science or Statistical Research
- Association or Institution for Rural Development
- Conservation of Natural Resources or for Afforestation
- PSU or Local Authority or an association or institution approved by the National Committee for carrying out any eligible projects
- National Urban Poverty Education Fund
80GGC
Deduction towards Donations made to Political Party or Electoral Trust
80TTA
10,000 -Deduction on interest received on saving bank accounts by Non-Senior Citizens
80TTB
50,000- Deduction on interest received on saving bank accounts by Resident Senior Citizens
80U
Deduction of resident individual taxpayer with disability
75000- irrespective of expense incurred
125000 - (>80% disability ) irrespective of expenses incurred