LIC, PPF, Tuition Fee etc.

80C allows deduction for investment made in PPF, EPF, LIC premium, Equity linked saving scheme, principal amount payment towards home loan, Contribution to Sukanya Sam Riddhi yojana, National saving certificate (NSC) , Senior citizen savings scheme etc.

Rs 1.5 Lakh (limit allowed u/s 80C)

Life Insurance Annuity Plan

Payment towards annuity pension plans Pension received from the annuity. Cover with Rs 1.5 Lakh (limit allowed u/s 80C)

Deduction for NPS

Maximum deduction will least of the following

• 10% of salary (in case taxpayer is employee)
• 20& of gross total income (in case of self-employed)
• Cover with Rs 1.5 Lakh (limit allowed u/s 80C)

Deduction for NPS

Amount Deposited to NPS

Additional Deduction of Rs.50,000 is allowed

Deduction for NPS

Employers’ contribution is allowed for deduction upto 10% of basic salary plus dearness allowance under this section. Benefit in this section is allowed only to salaried individuals and not self-employed.

Medical Insurance Premium

For Self, Spouse and dependent children: Rs. 25000 (if age is less than 60 years)

For Self, Spouse and dependent children: Rs. 50000 (if age is more than or equal to 60 years)

For Parents: Rs. 25000 (if age is less than 60 years)

For Parents: Rs. 50000 (if age is more than or equal to 60 years)

Note: cumulative additional deduction of Rs. 5,000 is allowed for preventive health check

Rehabilitation of Handicapped Dependent Relative

a. Expenditure incurred on medical treatment (including nursing), training and rehabilitation of handicapped dependent relative

b. Payment or deposit to specified scheme for maintenance of handicapped dependent relative.

If disability is 40% or more but less than 80% – fixed deduction of

Rs 75,000.

If disability is 80% or more – fixed deduction of Rs 1,25,000.

Medical Expenditure

For Individual or HUF age below 60 years: Rs. 40,000

For Individual or HUF age 60 years or more: Rs. 1,00,000

Interest on Loan Taken for Higher Education

Amount of Interest paid upto 8 Years.

Interest paid on Housing Loan

(Property Value up to 50 Lac)

(Loan amount up to 35 Lac)

Up to Rs. 50,000 (Subject to some conditions)

Interest Paid on Housing Loan

(Property Value up to Rs. 45 Lac.)

Up to Rs. 1,50,000 (Subject to some conditions)

Interest Paid on Electric Vehicle Loan)

Up to Rs 1,50,000

Donation to Charitable Institution

100% or 50% of Donation amount or qualifying amount.

(Cash donation allowed up to Rs. 2000)

House Rent Paid

Least of the following is allowed as deduction

Rs.60,000/-
25% of Total Income
Rent paid – 10% of Total Income

(HRA not claimed)

Donation to Scientific Research & Rural Development

100% of the Donation amount

(Cash donation allowed up to Rs. 10000)

Contribution to Political Parties

100% of the Donation amount

Cash not allowed

Contribution to Political Parties

100% of the Donation amount

Cash not allowed

Interest from saving account

Up to Rs. 10,000

Interest from Saving account or deposit

Up to Rs. 50,000

Disabled Individuals

Normal Disability: Rs. 75,000/-
Severe Disability: Rs. 1,25,000/-