Summary of Deductions U/S 80C, 80CCC, 80CCD & 80D

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Summary of Deductions U/S 80C, 80CCC, 80CCD & 80D

SECTION 80 DEDUCTION


SECTION	DEDUCTION ON	ALLOWED LIMIT (MAXIMUM) FY 2018-19
80C	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 – 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 THE SCHEME OF HOME LOAN ACCOUNT, AS PROVIDED BY 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	RS. 1,50,000
80CCC	FOR AMOUNT DEPOSITED IN ANNUITY PLAN OF LIC OR ANY OTHER INSURER FOR A PENSION FROM A FUND REFERRED TO IN SECTION 10(23AAB)	–
80CCD (1)	EMPLOYEE’S CONTRIBUTION TO NPS ACCOUNT (MAXIMUM UP TO RS 1,50,000)	–
80CCD (2)	EMPLOYER’S CONTRIBUTION TO NPS ACCOUNT	MAXIMUM UP TO 10% OF SALARY
80CCD(1B)	ADDITIONAL CONTRIBUTION TO NPS	RS. 50,000
80TTA (1)	INTEREST INCOME FROM SAVINGS ACCOUNT	MAXIMUM UP TO 10,000
80TTB	EXEMPTION OF INTEREST FROM BANKS, POST OFFICE, ETC. APPLICABLE ONLY TO SENIOR CITIZENS	MAXIMUM UP TO 50,000
80GG	RENT PAID FOR RESIDENTIAL PURPOSE, AND NO HRA IS RECEIVED FROM EMPLOYER	LOWER OF THE FOLLOWING – – RENT PAID MINUS 10% OF TOTAL INCOME – RS. 5000/- PER MONTH – 25% OF TOTAL INCOME
80E	INTEREST PAID ON THE LOAN TAKEN FOR EDUCATION PURPOSE	REPAYMENT OF INTEREST FOR A PERIOD OF MAXIMUM 8 YEARS
80EE	INTEREST ON HOME LOAN FOR FIRST TIME HOME OWNERS	RS 50,000
80D	MEDICAL INSURANCE – SELF, SPOUSE, CHILDREN MEDICAL INSURANCE – PARENTS MORE THAN 60 YEARS OLD OR (FROM FY 2015-16) UNINSURED PARENTS MORE THAN 80 YEARS OLD	– RS. 25,000 – RS. 50,000
80DD	MEDICAL TREATMENT FOR HANDICAPPED DEPENDENT OR PAYMENT TO SPECIFIED SCHEME FOR MAINTENANCE OF HANDICAPPED DEPENDENT – DISABILITY IS 40% OR MORE BUT LESS THAN 80% – DISABILITY IS 80% OR MORE	– RS. 75,000 – RS. 1,25,000
80DDB	MEDICAL EXPENDITURE ON SELF OR DEPENDENT RELATIVE FOR DISEASES SPECIFIED IN RULE 11DD – FOR LESS THAN 60 YEARS OLD – FOR MORE THAN 60 YEARS OLD	– LOWER OF RS 40,000 OR THE AMOUNT ACTUALLY PAID – LOWER OF RS 1,00,000 OR THE AMOUNT ACTUALLY PAID
80U	SELF-SUFFERING FROM DISABILITY: – AN INDIVIDUAL SUFFERING FROM A PHYSICAL DISABILITY (INCLUDING BLINDNESS) OR MENTAL RETARDATION. – AN INDIVIDUAL SUFFERING FROM SEVERE DISABILITY	– RS. 75,000 – RS. 1,25,000
80GGB	CONTRIBUTION MADE BY COMPANIES TO POLITICAL PARTIES	AMOUNT CONTRIBUTED, OTHER THAN IN CASH
80GGC	CONTRIBUTION MADE BY INDIVIDUALS TO POLITICAL PARTIES	AMOUNT CONTRIBUTED, OTHER THAN IN CASH
80RRB	DEDUCTIONS ON INCOME BY WAY OF ROYALTY OF A PATENT	LOWER OF RS 3,00,000 OR INCOME RECEIVED

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Rajput Jain & Associates

Rajput Jain & Associates is a Chartered Accountants firm, with it's headquarter situated at New Delhi (the capital of India). The firm has been set up by a group of young, enthusiastic, highly skilled and motivated professionals who have taken experience from top consulting firms and are extensively experienced in their chosen fields has providing a wide array of Accounting, Auditing, Taxation, Assurance and Business advisory services to various clients and their stakeholders. Rajput jain & Associates, a professional firm, offers its clients a full range of services, To serve better and to bring bucket of services under one roof, the firm has merged with it various Chartered Accountancy firms pioneer in diversified fields. We have associates all over India in big cities. All our offices are well equipped with latest technological support with updated reference materials. We have a large team of professionals other than our Core Team members to meet the requirements of our prospective clients including the existing ones. However, considering our commitment towards high quality services to our clients, our team keeps on growing with more and more associates having strong professional background with good exposure in the related areas of responsibility.