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Tag Cloud| Section | Rebate | Deduction |
| 80C | Life Insurance Premium – Self, Spouse, Children (Dependent, Independent, Married, Unmarried) Contribution to Provident Fund, Superannuation Fund ≥5 years term deposit in bank/Post office PPF – Self, Spouse, Children (Minor) [Maximum RS. 70000/-] Notified Unit of UTI, Mutual Funds, LIC National Saving Certificate Payment towards Cost of purchase/construction of Residential property Including Repayment of housing loan (Only Principle Component) Subscription to Public Deposit Scheme of HUDCO (Housing & Urban Development Corporation Ltd.) Senior Citizen Saving Scheme Subscription to notified bond of NABARD Tuition Fees (for full time education of two children in India) |
Up to Rs. 1,00,000 |
| 80CCC | Deposit to Pension Fund of LIC or other insurer | Up to Rs. 1,00,000 |
| 80CCD | Deposit to Pension Fund Scheme Notified by Central Govt (Employed by Central Govt or other Employer) - Up to 10% of Salary (Employer Contribution) - Up to 10% of Salary (Employee Contribution) |
Up to Rs. 1,00,000 |
| 80CCF | Long term Infrastructure Bond notified by Central Govt - A minimum period of 10 years - The minimum lock in period for an investor shall be five years. |
Up to Rs. 20,000 |
| 80D | Mediclaim/Health Insurance Policy of any General Insurer, paid by any mode other than cash or Central Government Health Scheme. - Insurance can be taken on the health of Self, Spouse and Dependent Children - Insurance can be taken on the health of Parents (Father & Mother whether dependent or not) |
- Up to Rs. 15,000, Up to Rs. 20,000 (if anyone is Senior Citizen) - Up to Rs. 15,000, Up to Rs. 20,000 (if anyone is Senior Citizen) |
| 80DD | Maintenance including Medical Treatment of dependent with disability 1. Medical Treatment 2. Deposit in Scheme of LIC or other insurer in this behalf 3. Disable dependent must not claim Deduction u/s 80U 4. Treatment of dependent with disability can be - Spouse, Parent, Children, Brother, Sister |
Fixed Deduction Rs. 50,000 or Rs. 1,00,000 (if disability > 80%)Rs. |
| 80DDB | Medical Treatment of Specified disease of Self, Spouse, Parent, Children, Brother, Sister - Amount received from Insurance Company shall be deducted from Rs. 40,000/ Rs. 60,000 |
Up to Rs. 40,000 or Up to Rs. 60,000 if incurred in respect of Senior Citizen |
| 80E | Payment of Interest on loan taken for higher studies - Self, Spouse, Children (Dependent, Independent, Married, Unmarried) - Available for eight assessment year beginning with assessment year in which payment of interest begins - Any Studies after passing Xth including Vocational Studies |
Amount of interest paid (Not the principal sum; principal sum can be claimed under Sec 80C) |
| 80U | Suffering from disability (Blindness, low vision, leprosy-cured, hearing impairment, locomotors disability, Mental retardation, mental illness) | Fixed Deduction Rs. 50,000 or Rs. 1,00,000 (if disability > 80%) |
Eligible diseases or ailments for Sec 80DDB -
(i) Neurological Diseases where the disability level has been certified to be of 40% and above -
(a) Dementia;
(b) Dystonia Musculorum Deformans;
(c) Motor Neuron Disease;
(d) Ataxia;
(e) Chorea;
(f) Hemiballismus;
(g) Aphasia;
(h) Parkinsons Disease;
(ii) Malignant Cancers;
(iii) Full Blown Acquired Immuno-Deficiency Syndrome (AIDS) ;
(iv) Chronic Renal failure ;
(v) Hematological disorders :
(a) Hemophilia ;
(b) Thalassaemia.
(i) Neurological Diseases where the disability level has been certified to be of 40% and above -
(a) Dementia;
(b) Dystonia Musculorum Deformans;
(c) Motor Neuron Disease;
(d) Ataxia;
(e) Chorea;
(f) Hemiballismus;
(g) Aphasia;
(h) Parkinsons Disease;
(ii) Malignant Cancers;
(iii) Full Blown Acquired Immuno-Deficiency Syndrome (AIDS) ;
(iv) Chronic Renal failure ;
(v) Hematological disorders :
(a) Hemophilia ;
(b) Thalassaemia.
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