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Deductions of Chapter IV A - OVERVIEW

Income Tax - Exemptions and Deductions - 05 - SECTION NATURE OF DEDUCTION WHO CAN CLAIM 80C Life insurance premium, provident fund contribution (Maximum : 1,50,000) Individuals and HUFs 80CCC Pension Fund (Maximum: 1,00,000 for AY 2015-16 & 1,50,000 for AY 2016-17) Individuals 80CCD(1) Contribution by an employee or any other individual towards NPS (up to 10% of the salary of the employee or up to 10% of GTI in the case of any other individual) (not to exceed 1,00,000 for the AY 2015-16) Ind .....

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dicapped dependent who is a person with disability (Maximum :1,00,000 (AY 2015-16) & 1,25,000 (AY 2016-17) Resident Individuals or resident HUFs 80DDB Medical treatment expenses (Maximum: 60,000 (AY 2015-16) & 80,000 Resident Individuals or resident HUFs 80E Payment of interest on Loan taken for higher studies Individuals 80EE Interest on loan taken for residential property Individuals 80G Donation to certain funds, charitable institutions [subject to maximum of 50% of qualifying donatio .....

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