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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With effect from the scope of expression ‘relative’ has also been enlarged to cover the student for whom the taxpayer is the legal guardian. I have made a donation of Rs.


Anonymous September 14, at Amount deposited in as Term Deposit for a period of 5 years or more deudction accordance with a scheme framed by the Government. I have not opted for Pension in The amount liable to tax shall not include the following amounts, namely: Deduction under section 80C- How to find out Section 80C has been inserted from the assessment year onwards.

Hi, I have undfr 31st Jul manual IT return. All companies are also required to compulsorily file their income tax return electronically with Digital signature.

Citizen, I got all the information I wanted to calculate my incometax, from this website.

Is there any other way to save tax for the deductoin payment received? I have given 15 G to bank for my Fixed deposit. All assessees not having any income chargeable under the head ‘Profits and gains of business or profession’. The Deduction is calculated as per the following steps — Step Deduction is allowed on interest of loan taken for pursuing higher education.


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

N K K August 1, at For let out property, amount actually paid by the owner towards taxes levied by any local authority in respect of the property is deductible from Annual value taxes pertaining to any previous years. If any equity shares or debentures, with reference to the cost of which a deduction is allowed, are sold or otherwise transferred by the assessee to any person at any time within a period of three years from the date of their acquisition, the aggregate amount of the deductions of income so allowed in respect of such equity shares or debentures in the previous year or years preceding the previous year in which such sale or transfer has taken place shall be deemed to be the income of the assessee of such previous year and shall be liable to tax in the assessment year relevant to such previous year.

Anonymous September 13, at 3: Can I get benefit of claiming full interest as a tax free in addition to 1.

The limit of 10 per cent will be applicable only in the case of policies issued on or after It was announced for F. Where an assessee who is liable to pay advance tax where tax liability exceeds Rs.


Anonymous June 2, at 6: Can u guide me. Working for TATA motors. With effect from assessment yearsub-section 1A of Section 80CCD which laid down maximum deduction limit of Rs.

Rebate u/s 87A of the Income Tax Act » Sensys Blog.

Investment in the agriculture land or capital gain, which ever is lower. Will the full payment from Superannuation Fund be taxable in AY ? The value of any premiums agreed to be returned or of any benefit by way of bonus or otherwise, over and above the sum actually assured, which is to be or may be received under the policy by any person, shall not be taken into account for the purpose of calculating the actual capital sum assured.

Anonymous May 21, at 2: Receipt from SPF is fully exemptedplease confirm the amounts and nature of provident fund pls http: Further you should provide form 16 detail in tds schedule.

This maximum limit of Rs. Deduction towards payment of medical insurance premium for self, family or for parents.

Subramani December 28, at 2: Yes you should file return on the basis of information with you.

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