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All about Deductions under Section 80

Various Deductions Under Section 80C

Section 80C:

This section provides a deduction of INR 1,50,000 on the total taxable income. Under this provision, an Individual or a HUF can reduce INR 1,50,000 from their taxable income.

Section 80CCC: LIC or pension scheme

This section provides a deduction for the amount deposited in any LIC plan or any other insurance policy. The policy must be a pension scheme defined in section 10(23AAB). If the policy is surrendered before the maturity date, then the surrender value will be taxable in the year of receiving the amount.

Section 80CCD(1): Employee’s pension scheme

Any individual who deposit for pension account are allowed to get a 10% deduction or INR 1.5 lakh whichever is less on their salary or gross income.

Section 80CCD

Section 80CCD(1): Employee’s pension scheme

Any individual who deposit for pension account are allowed to get a 10% deduction or INR 1.5 lakh whichever is less on their salary or gross income.

Section 80CCD(1B): Contribution to National Pension Scheme

A deduction up to INR 50,000 is allowed for individual contributing in NPS account or Atal Pension Scheme.

Section 80CCD(2): Employer’s contribution

Employers contributing to the employee’s pension account up to 10% of their salary can claim benefit under this section. There is no monetary ceiling on this deduction.

Section 80D

Section 80D Deductions on Medical Insurance

  • This section allows a deduction of INR 25,000 for investing in insurance for self or spouse or dependent children.
  • An insurance taken for a senior citizen dependent parents will avail a deduction of INR 30,000.
  • For super senior citizens who are older than 80 years and have medical expenditure incurred up to INR 30,000 are also eligible to get this deduction without taking any insurance policy.
  • Also, an additional deduction of INR 15,000 is allowed for insurance policy taken from parents less than 60 years of age.
  • For parents aged above 60 years, the deduction limit will be INR 20,000.
  • The maximum deductions can be availed under this section is INR 40,000.
  • Also, a deduction of INR 5,000 is available for preventive health check-ups.

Section 80DD

Section 80DD Deductions on Medical Expenditure for a Disabled Relative

  • The deductions are available against expenses incurred on medical treatment or training or rehabilitation or deposits in a certain scheme for dependent disabled relatives.
  • A fixed deduction of INR 75,000 is allowed for disability with a severity of 40% or more but less than 80%.
  • A fixed deduction of INR 1,25,000 is allowed for disability with severity more than 80%. In such case, a disability certificate is required.
  • The disabilities referred in Section 54(4) are eligible for claiming a deduction against 80% or more severe disability.
  • Certificate in the Form 10I is no longer accepted.
  • The certificate must have the name, age of the patient, name of the disease or ailment, name, address, registration number and the qualification of the specialist issuing the prescription. In the case of Govt hospital patients, the certificate must have the name and address of the hospital.
  • Such disability certificate must be taken from a specialist or private hospital or government hospital.
  • If patient is receiving treatment from Govt hospital must take certificate from an MCI recognized post-graduate degree-holder specialist working full-time in that hospital.

Section 80DDB

Section 80DDB Deductions on Medical Expenditure on Self or Dependent Relative

  • This section allows a deduction of INR 40,000 or amount spent, whichever is less against expenditures of specified disease treatment.
  • Such deduction can be claimed for self or dependent relatives.
  • The diseases specified into section 11DD are eligible to get deductions under this section.
  • A medical certificate confirming the disease in Form 10I obtained from any registered doctor must be furnished.
  • The deduction amount can be INR 60,000 or amount spent, whichever is less, in a case of a senior citizen.
  • The deduction amount can be INR 80,000 or amount spent, whichever is less, in a case of super senior citizens.

Section 80E

Section 80E Deductions on Education Loan for Higher Studies

  • This section allows deductions for interest on education loan taken by the taxpayer for themselves or spouse or children or a student him/her is a legal guardian to.
  • The deductions are available till the interest is paid or until a period of maximum 8 years, whichever is shorter.
  • There is no monetary ceiling on this deduction.

Section 80G

Section 80G Deduction for donations towards Social Causes

  • Donations specified under this section is eligible for 100% or 50% deductions without any restrictions.
  • The donation made over INR 10,000 must not be done in cash form.
  • Donations with 100% deduction without any qualifying limit:
    • Prime Minister's National Relief Fund
    • Swachh Bharat Kosh (applicable from the financial year 2014-15)
    • National Defence Fund set up by the Central Government
    • National Foundation for Communal Harmony
    • ZilaSakshartaSamiti constituted in any district under the chairmanship of the Collector of that district
    • An approved university/educational institution of National eminence
    • Fund set up by a State Government for the medical relief of the poor
    • National Blood Transfusion Council or to any State Blood Transfusion Council
    • National Illness Assistance Fund
    • National Trust for Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities
    • Fund for Technology Development and Application
    • National Sports Fund
    • National Cultural Fund
    • National Children's Fund
    • The Army Central Welfare Fund or the Indian Naval Benevolent Fund or the Air Force Central Welfare Fund, Andhra Pradesh Chief Minister's Cyclone Relief Fund, 1996
    • Chief Minister's Relief Fund or Lieutenant Governor's Relief Fund with respect to any State or Union Territory
    • The Maharashtra Chief Minister's Relief Fund during October 1, 1993 and October 6, 1993
    • Any fund set up by the State Government of Gujarat exclusively for providing relief to the victims of earthquake in Gujarat
    • Chief Minister's Earthquake Relief Fund, Maharashtra
    • Any trust, institution or fund to which Section 80G(5C) applies for providing relief to the victims of earthquake in Gujarat (contribution made during January 26, 2001 and September 30, 2001) or
    • Prime Minister's Armenia Earthquake Relief Fund
    • National Fund for Control of Drug Abuse (applicable from the financial year 2015-16)
    • Clean Ganga Fund (applicable from the financial year 2014-15)
    • Africa (Public Contributions — India) Fund

Donations with 50% deduction without any qualifying limit.

  • Prime Minister's Drought Relief Fund
  • Jawaharlal Nehru Memorial Fund
  • The Rajiv Gandhi Foundation
  • Indira Gandhi Memorial Trust

Donations to the following are eligible for 100% deduction subject to 10% of adjusted gross total income.

  • Government or any approved local authority or institution or association promoting family planning.
  • Donation to sponsor any sports or games in India.
  • Donation to the Indian Olympic Association or to any other notified association or institution established in India for the developing the infrastructure for sports and games in India.

Donations to the following are eligible for 50% deduction subject to 10% of adjusted gross total income.

  • Any other fund or any institution satisfying conditions described in Section 80G(5).
  • Government or any local authority to be utilized for any charitable purpose other than promoting family planning.
  • Any Indian constituted authority dealing and satisfying the need for housing accommodation or for the purpose of planning, development or improvement of cities, towns, villages or both.
  • Donation made to repair or renovation of any temple or mosque or gurudwara or church or other religious places.
  • Any corporation referred in Section 10(26BB) for promoting minority community interest.

Section 80GG

Section 80GG Deductions on House Rent

This deduction can be claimed where employees do not receive HRA from their employer and stay in a rented house. The taxpayer or their spouse must not own a residential accommodation at the employment place to be eligible for this deduction. Also, the taxpayer must not have any self-occupied residential property.

Available deduction is the minimum of

  • Rent paid minus 10% of total income
  • 25% of total income
  • INR 5000/- per month (a maximum of INR 60,000 per year)

Section 80GGB

Section 80GGB Deductions on Contribution by Companies to Political Parties

  • Any Indian company can claim this deduction for any contribution made to any Indian political party or an electoral trust.
  • The contribution must not be done in cash form. The contribution must define the definition mentioned in section 293A of the Companies Act, 1956.
  • The political party must be registered under section 29A of the Representation of the People Act.

Section 80GGC

Section 80GGC Deductions on Contribution by Individuals to Political Parties

  • Any Indian citizen or taxpayer can claim this deduction for any contribution made to any Indian political party or an electoral trust.
  • The contribution must not be done in cash form.
  • The political party must be registered under section 29A of the Representation of the People Act.

Section 80RRB

Section 80RRB Deductions on Income by way of Royalty of a Patent

  • According to patent act 1970, deductions can be claimed against income generated by way of royalty for a registered patent.
  • Deductions up to INR 3 lakhs or income received, whichever is less can be claimed under this section.
  • The patentee taxpayer must be an Indian individual resident and need to furnish a certificate in the prescribed form duly signed by the prescribed authority.

Section 80 TTA

Section 80 TTA Deductions for Interest on Savings Account

  • This section provides a deduction for individual and HUFs of maximum INR 10,000 against earnings made from a bank savings account.
  • Interest earned from a saving account must be included in other income first and then a deduction can be claimed on the interest amount or INR 10,000 whichever is less.
  • Savings accounts with a bank or co-operative society or post office are eligible for this deduction.
  • This deduction cannot be claimed against fixed deposits or recurring deposits or corporate bond interest.

Section 80U

Section 80U Deductions for Person suffering from Physical Disability

Under this section, any individual suffering from a physical disability can claim a deduction of INR 75,000.

  • The disability includes mental retardation and blindness.
  • Deductions of INR 1.25 lakhs can be claimed for disability with major severity.
  • A certificate must be furnished, obtained from a Govt. Doctor as mentioned in Rule 11D.
  • This is fixed deduction and does not require to produce bills or expenses.

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