sections 80C to 80U. • However, the Condition (s). The maximum amount deductible under section 80C, 80CCC, TO A.Y. Qualifying. Under Section 80C, deduction would be available from Gross Total Income. . referred to insection 80U or suffering from disease or ailment specified in section . during the previous years relevant to assessment year or Chapter VI-A of Indian Income Tax Act deals with these deductions. For financial year (Assessment Year ), following are few important.

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Section 80C provides deduction in respect of specified qualifying amounts paid deposited by the assessee in the previous year. Can i get the whole 1Lakh under Section 80C? All efforts are made to keep the content of this site correct and up-to-date.

Chapter VI-A: Section 80C to 80U to save Income Tax – TaxDesign

Dear Sir, I am Satheshkannan. I also claim the interest and the principal payment of this property for my tax.

Can I get any tax benefit for these charges? Remarks It should be noted that individual or spouse or minor child should not have residential accommodation at the place of individual workplace.


I would like to know if I purchase another property at Ahmedabad, will be eligible to claim interest on property purchased in Ahmedabad as tax free? Deduction is allowed on interest of loan taken for pursuing higher education.

In case of Senior citizen- individual can claim up to Rs 80, revised from 60, Section 80 GGA Deduction can be claimed for donation made towards scientific, social or statistical research or rural development Section 80 GGB Deduction can be claimed by Indian Company for amount donated to political parties or electoral trust.


The visitors may click here to visit the web site of Income Tax Department for resolving their doubts or for clarifications.

Arrear of Salary and relief under sechion 89 1. Inder email address will not be published. Individual HUF For self, spouse and dependent children: PAN can be obtained by applying in new Form No.

With effect from no deduction shall be allowed in respect of donation of any sum exceeding ten thousand rupees unless such sum is paid by any foor other than cash. Would be very thankful and i guess it would be very useful to all. Remarks Your gross income should be less than 12 lacs to be eligible to invest in this scheme. Undeer save the tax, can I now in July purchase annuity from LIC with the gross amount of payment received from the Superannuation Fund?

Anonymous August 21, at I want to know that why we are not calculate CII on short term capital gain on real estate or property.

Deduction Under Section 80 C to 80 U ( How to Find Out)

Deduction is allowed for the actual bill paid or up to maximum limit i. In our view both service tax and income tax is applicable.

Sahu July 18, at 4: From assessment year onwards the deduction under Section 80D will be available as per the limit specified below: Whether any relief is available to pensioners of 60 years age under sec88 b N K Kacker.

All assessees not having any income chargeable under the head ‘Profits and gains of business or profession’.


This section is new and announced in Budget Any income by way of Dividends from company, Income received in respect of units from the Unit Trust of India, Income received in respect of the units of a mutual fund are exempt. With effect from deduction will not be allowed if sum is contributed in cash. The limit of 10 per cent will be applicable only in the case of policies issued on or after Where, in any previous year, an assessee—.

Anonymous July 22, at Prabhat April 17, at Further advance tax rule is applicable from Fy.

Chapter VI-A: Section 80C to 80U to save Income Tax

I have retired from service in Nov Should we pay GTA while payment of service Tax? Valuation of perquisites rules are available here 8.

Niteen Vaidya August 20, at I heard that as senior citizens I need not pay interest on income tax even if it has not been paid before 31 march As per my pay detail it is around and 08u form 16 its Anonymous July 25, at 7: Subscribe for our updates. With effect from Assessment Yearthe deduction shall be available to all assessees [not just Indian companies]engaged in the business of manufacturing of goods in undder factory. Anonymous February 18, at 1: Donation to certain funds, charitable institution etc is allowed to be deducted as specified in section 80G.