Section |
Eligiblity |
Particulars |
Deduction Limit |
80C |
Individual/HUF |
Any sum paid or deposited in the financial year- Employee Provident Fund, Public Provident Fund, Life insurance premium (upto 10% of sum assured and in case of severe disabilty upto 15% of sum assured), Tax Saving mutual fund (ELSS), Home loan principal repayment, Sukanya Samriddhi Account, Tuition fees of children, National Saving Certificate, Tax-saving FDR with banks etc. |
Section 80C+80CCC+80CCD(1) up to maximum of Rs. 1,50,000 |
80CCC |
Individual |
Payment of premium for annuity plan of LIC or any other Insurer for receiving pension from the fund. |
80CCD(1) |
Individual |
Deduction for contribution in pension scheme notified by the Government to the extent of 10% of salary in case of employees and 10% of total income in case of others. |
80CCD(1B) |
Individual |
Contribution to National Pension Scheme. The deduction is an additional to the deductions under 80C, 80CCC and 80CCD(1). |
Up to Rs. 50,000 |
80CCD(2) |
Salaried Persons |
Contribution by employer in pension scheme notified by the Government |
Max 10% of salary. |
80D |
Resident Individual/ HUF |
Medical Insurance Premium for Self, Spouse and dependent children or Parents dependent or Not |
|
For self, spouce and dependent children ( any one age < 60 yrs ) |
Rs. 25,000 |
For Parents - Father or mother or both (any one age < 60 yrs) |
Rs. 25,000 |
For self, spouce and dependent children ( any one age > 60 yrs ) |
Rs. 50,000 (w.e.f 01.04.2018) |
For Parents - Father or mother or both (any one age > 60 yrs) |
Rs. 50,000 (w.e.f 01.04.2018) |
80DD |
Resident Individual/ HUF |
Deduction in respect of maintenance including medical treatment of dependent who is a person with disability. |
Person suffering atleast 40% of Disability - Rs. 75,000 |
Person suffering atleast 80% of Disability - Rs. 1,25,000 (Severe Disability) |
80DDB |
Resident Individual/ HUF |
Medical treatment of specified disease or ailment for self or dependent relative. |
Person whose treatment below the age of 60 years, least of Actual Exp. or Rs. 40,000 or Senior Citizens and Super Senior Citizens Least of Actual Exp. Or Rs. 1,00,000 w.e.f. 2018-19 onwards |
80E |
Individual |
Interest on loan taken for pursuing higher education of self, his spouse and children |
No limit. Deduction is allowed for maximum of 8 years or until the full amount of interest is repaid, whichever is earlier. |