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Faster, easier and secure gateway to e-file income tax return

Deductions

Deductions are made to reduce taxable income by decreasing the tax liabilities. Deductions can be claimed for different variations and the amount of the deduction depends on that.

Section Limits in Rs Elaboration
80C 1,50,000
  • Investment in PPF
  • Employee's share of PF contribution
  • NSCs
  • Life Insurance Premium payment
  • Children's Tuition Fee
  • Principal Repayment of home loan
  • Investment in Sukanya Samridhi Account
  • ULIPS
  • ELSS
  • The sum paid to purchase deferred annuity
  • Five year deposit scheme
  • Senior Citizens savings scheme
  • Subscription to notified securities / notified deposits scheme
  • Contribution to notified Pension Fund set up by Mutual Fund or UTI.
  • Subscription to Home Loan Account Scheme of the National Housing Bank
  • Subscription to deposit scheme of a public sector or company engaged in providing housing finance
  • Contribution to notified annuity Plan of LIC
  • Subscription to equity shares / debentures of an approved eligible issue
  • Subscription to notified bonds of NABARD
80CCC 1,50,000 Investment towards Pension schemes
80CCD(1) 50,000 Various NPS schemes
80CCD(1) 50,000 Various NPS schemes
80CCD(1B) 50,000 NPS coverage
80CCD(2) 50,000 Various NPS schemes
80D 25,000 for under the age of 60 Medical Insurance for Self, Spouse
30,000 For Senior citizens
80D 25,000 for under the age of 60 Medical Insurance for Parents
30,000 For Senior citizens

With All India ITR, you can find all the deductions applicable to your IT return request by accessing the user panel.