Section 80C to Section 80U guide by H&R Block covers all details that you need to know about deductions that can be claimed while filing your. 4 days ago A complete guide on Income Tax deduction under section 80C, 80CCD, 80CCC. Section 80U – Tax Deduction for Disabled Individuals. Deduction Under Section 80C and 80U: Know more about income tax The extensive list of deductions that an individual can claim under Section 80C has.

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Deductions under Section 80C to Section 80U

This deduction is available for rent paid when HRA is not received. Deduction under Section 80LA This deduction can be availed by scheduled banks having offshore banking units in SEZs, entities of International Financial Services Centres and banks which have been established outside India. This deduction can be availed by scheduled banks having offshore banking units in SEZs, entities of International Financial Services Centres and banks which have been established outside India.

The investment should be made in such listed investor as per the requirement specified under the notified scheme.

A glance of deductions available u/s 80C to 80U

Deduction under Section 80TTB Interest income of senior citizens up to Rs 50, on deposits with banks and post offices will be exempt, and no TDS will be calculated on such income under section A.

Please clarify the effect is from 1st April are from 1st April The Chartered Accountants should audit the accounts of these companies and produce a report reflecting the returns. In case disability is severethe amount is Rs 1,00, Discussed in this article are some of the important deductions under Section 80C a taxpayer is eligible to claim.


We use cookies to ensure that we give you the best experience on our website. It’s a secure way to invest in mutual funds. The deduction is available for the taxpayer, spouse, dependent children, parent dependent or independent.

Section 80C to Section 80U Deductions

Gold, Equities Or Debt: Deduction under Section IB Section IB Assessees who have earned profits from hotels, shops, multiplex theatres, cold storage plants, housing project, scientific research and development, etc. File all GST returns for your clients with automated data reconciliation – No download required. Section 80G 80v a deduction on contributions made towards an approved charitable institution. Investments and payments that are eligible tax-saving deductions under Section 80C.

Amount of deduction is lower of the following.

Deductions under Section 80J ]. In addition to this, you will also be eligible to claim deduction of premium paid on the policy taken for your senior citizen parents upto a maximum of Rs lis, this limit was Rs 30, until FY The deduction that can be claimed is Rs 40, The purchase of agricultural implements, seeds, livestock or other articles intended for agriculture for the purpose of supplying them to its members.

List of deduction from total income u/s 80C to 80U – Goodreturns

Section 80P provides for percent deduction in respect of profit of cooperative society which provide assistance to its members engaged in primary agricultural activities. Choose your Account Type. But if any deduction is allowed under section 80CCD 1then no deduction will be allowable under this section for the same contribution. Know about PPF benefits and how it can help you in saving your taxes.

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For maintenance including treatment or insurance the lives of physical disable dependent relatives. However, even if you miss submitting these proofs to your employer, the claim for such investments made can be done at the time of filing your deductiond of income as long as these investments have been made before the end of the relevant FY.

Sum deposited in Fixed Deposits FDs with tenure of five years. You can claim deductions and save tax even when you have missed income tax proof submission deadline.

You can claim deduction for investments made in the return of income for the year 800u which you have made the investment.

Section 80C to Section 80U Deductions. Investments eligible under this section 80C are. How to save tax on HRA by paying rent to parents. Claim Deductions and Save Tax even when you missed income tax proof submission deadline.