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Deductions-under-Section-80G-to-80U

 

Deductions under Section 80G to 80U

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As per Income tax act the following deductions are allowed under Chapter VI-A (i.e. 80C to 80U), now i am explaining about deduction under section 80G to 80U in this blog & deductions under section 80C to 80E had already explained in my previous blog. The details are as under-
   
Section Eligiblity Particulars Deduction Limit
80G All Assessee Donation to certain funds, Charitable institutions, PM Care fund etc: Either or up to 100% or 50% with or without restriction
80GG Individual/ HUF House Rent ( for self employed and salaried person) Who have not recived HRA as a part of salary ) Least of the following - Rs. 5,000/- per month or 25% of Total Income* or Actual Rent paid -10% of Total Income* (*Total Income means Total Income for the year before claiming deduction under section 80GG
80GGA All Individuals (except those have income from business or profession, they can claim deduction under section 35) Donation for Scientific Research and Rural Development 100% of Amount donated (Cash not to be given in excess of Rs. 10,000)
80GGB All Companies (except Government Companies or companies with younger 3 years) Donation given to any Political Party registered under section 29A 100% of Amount donated (Cash not allowed)
80GGC All Individuals or Non companies Donation given to any Political Party registered under section 29A 100% of Amount donated (Cash not allowed)
80JJA All Assessee Profits and gains from businesses related to collection and processing of biodegradable wastes. Least of the following : 100% of Profit & Gains from such business or Rs. 5,00,000
80JJAA Indian companies having manufacturing of goods etc. Incentive for New employment 30% of additional wages paid to new employees in the previous year
80P Co-operative societies also includes farm producer companies having turnver up to 100 Crore Income of Farm Producer companies 100% of Profit & Gains carrying on farm produce as listed or for other incomes it is  Rs. 50,000 or 1,00,000 as the case may be
80QQB Resident Individual Author Royalty Income of Authors Least of Rs. 3,00,000 or Actual Royalty Received, But in case of foreign remittance the payment should be received within 6 months
80RRB Resident Individual Royalty Income on Patent Least of Rs. 3,00,000 or Actual Royalty Received, But in case of foreign remittance the payment should be received within 6 months
80TTA Individual/ HUF Interest on Saving accounts held with Banks, Post offices or Co-operative Socities Rs. 10,000
80TTB Only for Senior Citizens (w.e.f 01.04.2018) Interest on all kind of Deposits whether Saving/Fixed/Recurring/Term Deposits etc. Rs. 50,000
80U Resident Individual Deduction in respect of Person suffering from Physical  Disability Person suffering atleast 40% of Disability - Rs. 75,000
Person suffering atleast 80% of Disability - Rs. 1,25,000 (Severe Disability)



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