The following Table all about deduction from income under all section 80A/AB/AC, 80c,80CCC, 80CCD, 80CCE, 80D,80DD, 80DDB, 80E, 80G, 80GG, 80GGA, 80GGB, 80GGC, 80-IA, 80IAB,80IB, 80IC, 80ID, 80IE, 80JJA, 80JJAA, 80LA, 80P, 80QQB, 80RRB, 80U. One can easily find the provision of any above deduction like for whom the particular deduction is allowed and for what quantum of deduction is allowed.
|
Sections |
Particulars |
Assessee to whom allowed |
Quantum of deduction |
| 80A/AB/AC | Basic rules of deductions | NA | NA |
| 80C | Deduction in respect of life insurance premia. deferred annuity, contributions to provident fund, subscription to certain equity shares or debentures, a term deposit for a fixed period of not less than 5 years with a scheduled bank, bonds issued by NABARD, Post Office 5 year Time Deposit, Senior Citizen Savings Scheme etc. | Individual or HUF | Max. Rs. 1,00.000 . |
| 80CCC | Deduction in respect of contribution to certain pension funds | Only individuals | Max. Rs. 1,00,000 |
| 80CCD | Deduction in respect of contribution to new pension scheme | Central
Government or any other employee. From assessment year 2009-10 benefit extended to self-employed persons also |
Employer’s and employee’s contribution subject to maximum of 10% of salary |
| 80CCE | Limit of deduction u/ss. 80C, 80CCC and 80CCD | Individual or HUF | Max. Rs. 1,00,000 |
| 80D | Deduction in respect of medical insurance premia | Individual or HUF whether resident or non-resident | In case of individuals
(/’) For individual himself, spouse and dependent children Rs. 15,00 (//’) For parents of the individual, whether dependent or not Rs. 15,000 In case of HUF Rs. 15,000 Note.—Addl. Rs. 5,000 if any of the above person insured is a senior citizen |
|
Sections |
Particulars |
Assessee to whom allowed |
Quantum of deduction |
| 80DD/ Rule 11A | Deduction in respect of maintenance including medical treatment of person with physical disability | Individual or HUF resident in India:
• with disability • with severe disability |
Rs. 50,000 Rs. 75,000
Increased to Rs. 1,00,000 W.e.f. A.Y. 2010-11 |
|
80DDB/ Rule HDD |
Deduction in respect of medical treatment, etc. | Individual or HUF resident in India For senior citizen | Rs. 40,000 Addl. Rs. 20.000 |
| 80E | Deduction for interest paid on loan taken for pursuing his higher education or for the purpose of higher education of his relative. W.e.f. A.Y. 2010-11 meaning of higher education has been enlarged to cover all post schooling courses “Relative” means the spouse and children of the individual. | Individual whether resident or not | Actual amount paid |
| 80G/Rules
UAA& 18AAA |
Deduction in respect of donations to certain funds, charitable institutions, etc. | All assessees | (a) 100% or 50% of eligible
donations, without applying qualifying limit in certain cases (b) 100% or 50% of eligible donations, after applying Qualifying limit of 10% of adjusted GTI. |
| 80GG and Rule 1 IB | Deductions in respect of rent paid | Individual only | Maximum Rs. 2,000 p.m. |
| 80GGA | Deduction in respect of certain donations for scientific research or rural development, etc. | Ail assessees not having business income. | 100% of sum donated |
| 80GGB | Deduction in respect of contribution to political parties.
W..e.f. A.Y. 2010-11, contribution to Electoral Trust also eligible for deduction. |
Indian companies | 100% of sum contributed |
| 80GGC | Deduction in respect of contribution to political parties.
W.e.f. A.Y. 2010-11, contribution to Electoral Trust also eligible for deduction |
All assessees (except local authority and artificial judicial person) | 100% of sum contributed |
|
Sections |
Particulars |
Assessee to whom allowed |
Quantum of deduction |
| 80-IA/ Rules 18BBA & 18BBE | Deduction in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructure development, etc. | Industrial undertaking or enterprises engaged in infrastructure development, etc. | 100% of profits for 10 consecutive assessment years in all cases except in case of telecommunication where it shall be 100% for first 5 years and 30% for next 5 years |
| 80-IAB | Deduction in respect of profits and gains by an undertaking a enterprise engaged in development of Special Economic Zone | an assessee, being a Developer, who derives any profits and gains from an undertaking or an enterprise from any business of developing a Special Economic Zone | 100% of the profit for 10 consecutive assessment year |
| 80-IB/
Rules 18AAB, 18BBC& 18DA |
Deduction in respect of profits and gains from certain industrial undertakings other than infrastructure development, etc. | All assesses engaged in the business of Industrial
undertakings/hotels/ ships/infrastructure development/ scientific and industrial research and development. W.e.f. A.Y. 2009-10, profit from the business of a hospital in any area other than specified area Production and refining of mineral oil |
25% to 100% for prescribed no. of years.
100% of the profit for a period of 5 consecutive assessment years 100% of the profits for a period of 7 consecutive assessment years |
| 80-IC | Deduction in respect of certain undertakings or enterprises in certain special category States | All assessees deriving income from an undertakings or enterprises situated in special category States which begin manufacturing/ production between specified dates | 25% to 100% of profits |
| 80-ID | Deduction in respect of profits and gains from business of hotels and convention centres in specified area | All assessees engaged in the business of hotel or engaged in the msiness of | 100% for 5 consecutive assessment years |
|
Sections |
Particulars |
Assessee to whom allowed |
Quantum of deduction |
| building, owning and operating a convention centre
W.e.f. A.Y. 2009-10 hotels located in specified districts having a World Heritage Site in India |
100% for 5 consecutive assessment years | ||
| 80-IE | Deduction in respect of profits and gains from an undertaking in any of the North-Eastern States | Assessees who have begun or begin to manufacture or produce eligible articles or things or undertake substantial expansion or carry on any eligible, business on or after. 1-4-2007. | 100% for 10 consecutive assessment years |
| 80JJA | Deduction in respect of profits and gains from business of collecting and processing of bio degradable waste | All assessees | 100% of profit for 5 years |
| 80JJAA/ Rule 19AB | Deduction in respect of employment of new workmen | Only Indian companies | 30% of additional wages for 3 years |
| 80LA | Deduction in respect of certain income of offshore Banking Units | Only Scheduled Banks owning etaxindia.org offshore Banking Units in a special economic zone | 100% for first 5 years and 50% for next 5 years |
| 80P | Deduction in respect of income of co-operative societies except in case of certain co-operative banks. | Co-operative societies | 100% of profit but in some eases amount is fixed at RV. 1,00,000/Rs. 50,000 |
| 80QQB | Deduction in respect of royalty income, etc. of authors of certain books other than text books | Individuals who are residents in India and are authors | Actual income or Rs. 3,00,000, whichever is less |
| 80RRB | Deduction in respect of royalty on patents | Individual who is resident in India and is a patentee | 100% of such income or
Rs. 3,00,000 whichever is less |
| 80U/Rule 11D , | Deduction in the case of permanent physical disability (including blindness). etaxindiaorg | Resident individual:
• with disability • with severe disability |
Rs. 50,000 Rs. 75,000 |
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{ 14 comments… read them below or add one }
deduction detail for income tax
On a New Slab 80c maximum allowed details needed…..
I would like to know the taxability of Employer’s contribution towards New Pension Scheme for Central Govt. employees who have joined after 1st April 2004
very nice and usefull for needfull person
sir
salary includes basic+da?
or allowances like family planning,construction and additional house rent are to be included in salary?
please clarify
srinivas
Sir,
My totla savings under 80C is 76,910.
But the the total taxable income is 16,900. Is there any other saving with minimum locking period to avoid tax? please claify.
Clarification and exemption criteria illaborately of U/S 80 u is highly required
u\s 80c insurance premia paid to mother and father .Is coming under deduction u\s 80c ,cc,ccd 1,00,000. may we claim it as a deduction
I want to know the % for single eye blindness and other eye poor vision for dependent father under section 80dd.
I am 100% physically handicapped due to polio that is why been paid the fixed conveyance allowance 1000 per month in my salary. Is it tax free even when Ihave been allowed deduction of Rs. 75000 under 80U/ rule 11 D due to sever disability.
TAXABILITY OF EMPLOYER’S CONTRIBUTION TO EMPLOYEE PROVIDENT FUND UP TO 12% OF THE BASIC GROSS SALLERY FOR AY 2010-2011
Sir, I am a Banker and I had availed Housing loan for construction on Ground floor which I completed during the year 1998 for which I pay yearly interest of Rs. 16000/ and installment Rs. 22000/-. Again I borrowed capital for extension of my house on First floor which I completed during the year 2009 and yearly interest for the second construction comes to 32000/- and installments Rs. 70000/- Please let me know the total interest deduction and principal amount. Shall I get the benefit of interest/installment on Second construction.
Sir,
I sold my property (flat) for Rs.10,00,000/- (Ten lacs) & this amount i want to deposit in Bank as a fix deposit, in this deposit need to pay any tax ?
Deductions in case of partnership firm.????????
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