{"id":13224,"date":"2021-07-05T00:52:35","date_gmt":"2021-07-04T19:22:35","guid":{"rendered":"https:\/\/carajput.com\/blog\/?p=13224"},"modified":"2023-12-11T18:10:13","modified_gmt":"2023-12-11T12:40:13","slug":"read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/","title":{"rendered":"Read All About the Deductions U\/S 80C, 80CCC, 80CCD &#038; 80D"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a1db029c6177\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a1db029c6177\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#THE_DEDUCTIONS_US_80CCC_80CCD_80D\" title=\"THE DEDUCTIONS U\/S 80CCC, 80CCD &amp; 80D\">THE DEDUCTIONS U\/S 80CCC, 80CCD &amp; 80D<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#SECTION_80C_%E2%80%93_DEDUCTIONS_ON_INVESTMENTS\" title=\"SECTION 80C \u2013 DEDUCTIONS ON INVESTMENTS\">SECTION 80C \u2013 DEDUCTIONS ON INVESTMENTS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#SUBSECTIONS_OF_SECTION_80C\" title=\"SUBSECTIONS OF SECTION 80C\">SUBSECTIONS OF SECTION 80C<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#INVESTMENTS_ELIGIBLE_FOR_DEDUCTION_UNDER_SECTION_80C\" title=\"INVESTMENTS ELIGIBLE FOR DEDUCTION UNDER SECTION 80C \">INVESTMENTS ELIGIBLE FOR DEDUCTION UNDER SECTION 80C <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#LIFE_INSURANCE_PREMIUMS\" title=\"LIFE INSURANCE PREMIUMS \">LIFE INSURANCE PREMIUMS <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#PUBLIC_PROVIDENT_FUND\" title=\"PUBLIC PROVIDENT FUND\">PUBLIC PROVIDENT FUND<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#NABARD_RURAL_BONDS\" title=\"NABARD RURAL BONDS \">NABARD RURAL BONDS <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#UNIT_LINKED_INSURANCE_PLANS_ULIPS\" title=\"UNIT LINKED INSURANCE PLANS (ULIPS)\">UNIT LINKED INSURANCE PLANS (ULIPS)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#NATIONAL_SAVINGS_CERTIFICATE\" title=\"NATIONAL SAVINGS CERTIFICATE \">NATIONAL SAVINGS CERTIFICATE <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#TAX_SAVING_FD\" title=\"TAX SAVING FD \">TAX SAVING FD <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#EPF\" title=\"EPF\">EPF<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#INFRASTRUCTURE_BONDS\" title=\"INFRASTRUCTURE BONDS\">INFRASTRUCTURE BONDS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#EQUITY-LINKED_SAVING_SCHEME\" title=\"EQUITY-LINKED SAVING SCHEME\">EQUITY-LINKED SAVING SCHEME<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#SENIOR_CITIZENS_SAVINGS_SCHEME\" title=\"SENIOR CITIZENS SAVINGS SCHEME\">SENIOR CITIZENS SAVINGS SCHEME<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#PRINCIPAL_REPAYMENT_MADE_TOWARDS_CONSUMER_CREDIT\" title=\"PRINCIPAL REPAYMENT MADE TOWARDS\u00a0CONSUMER CREDIT\">PRINCIPAL REPAYMENT MADE TOWARDS\u00a0CONSUMER CREDIT<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#STAMP_DUTY_AND_REGISTRATION_CHARGES\" title=\"STAMP DUTY AND REGISTRATION CHARGES\">STAMP DUTY AND REGISTRATION CHARGES<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#SUKANYA_SAMRIDDHI_YOJANA\" title=\"SUKANYA SAMRIDDHI YOJANA\">SUKANYA SAMRIDDHI YOJANA<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#SECTION_80CCC_%E2%80%93_INSURANCE_PREMIUM_SECTION_80CCD_%E2%80%93_PENSION_CONTRIBUTION\" title=\"SECTION 80CCC \u2013 INSURANCE PREMIUM \/SECTION 80CCD \u2013 PENSION CONTRIBUTION\">SECTION 80CCC \u2013 INSURANCE PREMIUM \/SECTION 80CCD \u2013 PENSION CONTRIBUTION<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#INVESTMENT_OPTIONS_UNDER_SECTION_80_C\" title=\"INVESTMENT OPTIONS UNDER SECTION 80 C \">INVESTMENT OPTIONS UNDER SECTION 80 C <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#DEDUCTION_FOR_INTEREST_ON_SAVINGS_CHECKING_ACCOUNT\" title=\"DEDUCTION FOR INTEREST ON SAVINGS\u00a0CHECKING ACCOUNT\">DEDUCTION FOR INTEREST ON SAVINGS\u00a0CHECKING ACCOUNT<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#SECTION_80GG_%E2%80%93_HOUSE_RENT_PAID\" title=\"SECTION 80GG \u2013 HOUSE RENT PAID\">SECTION 80GG \u2013 HOUSE RENT PAID<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#SECTION_80E_%E2%80%93_INTEREST_ON_EDUCATION_LOAN\" title=\"SECTION 80E \u2013 INTEREST ON EDUCATION LOAN\">SECTION 80E \u2013 INTEREST ON EDUCATION LOAN<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#SECTION_80EE_%E2%80%93_INTEREST_ON_HOME_EQUITY_LOAN\" title=\"SECTION 80EE \u2013 INTEREST ON\u00a0HOME EQUITY LOAN\">SECTION 80EE \u2013 INTEREST ON\u00a0HOME EQUITY LOAN<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#SECTION_80D_%E2%80%93_MEDICAL_INSURANCE\" title=\"SECTION 80D \u2013 MEDICAL INSURANCE\">SECTION 80D \u2013 MEDICAL INSURANCE<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#SECTION_80DD_%E2%80%93_DISABLED_DEPENDENT\" title=\"SECTION 80DD \u2013 DISABLED DEPENDENT\">SECTION 80DD \u2013 DISABLED DEPENDENT<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#SECTION_80DDB_%E2%80%93_MEDICAL_EXPENDITURE\" title=\"SECTION 80DDB \u2013 MEDICAL EXPENDITURE\">SECTION 80DDB \u2013 MEDICAL EXPENDITURE<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-27\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#SECTION_80U_%E2%80%93_PHYSICAL_DISABILITY\" title=\"SECTION 80U \u2013 PHYSICAL DISABILITY\">SECTION 80U \u2013 PHYSICAL DISABILITY<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-28\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#SECTION_80G_%E2%80%93_DONATIONS\" title=\"SECTION 80G \u2013 DONATIONS\">SECTION 80G \u2013 DONATIONS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-29\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#SECTION_80GGB_%E2%80%93_COMPANY_CONTRIBUTION\" title=\"SECTION 80GGB \u2013 COMPANY CONTRIBUTION\">SECTION 80GGB \u2013 COMPANY CONTRIBUTION<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-30\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#SECTION_80GGC_%E2%80%93_CONTRIBUTION_TO_POLITICAL_PARTIES\" title=\"SECTION 80GGC \u2013 CONTRIBUTION TO POLITICAL PARTIES\">SECTION 80GGC \u2013 CONTRIBUTION TO POLITICAL PARTIES<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-31\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#SECTION_80RRB_%E2%80%93_ROYALTY_OF_A_PATENT\" title=\"SECTION 80RRB \u2013 ROYALTY OF A PATENT\">SECTION 80RRB \u2013 ROYALTY OF A PATENT<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-32\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#SECTION_80_TTB_%E2%80%93_INTEREST_INCOME\" title=\"SECTION 80 TTB \u2013 INTEREST INCOME\">SECTION 80 TTB \u2013 INTEREST INCOME<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-33\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#What_is_Capital_Gain_Exemption\" title=\"What is Capital Gain Exemption ?\u00a0\">What is Capital Gain Exemption ?\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-34\" href=\"https:\/\/carajput.com\/blog\/read-all-about-the-deductions-u-s-80c-80ccc-80ccd-80d\/#Tax_planning_on_capital_Gain\" title=\"Tax planning on capital Gain\">Tax planning on capital Gain<\/a><\/li><\/ul><\/nav><\/div>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-24666\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/07\/80c-..jpg\" alt=\"Section 80c\" width=\"1080\" height=\"974\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/07\/80c-..jpg 1080w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/07\/80c-.-300x271.jpg 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/07\/80c-.-1024x923.jpg 1024w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/07\/80c-.-768x693.jpg 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/07\/80c-.-800x721.jpg 800w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"THE_DEDUCTIONS_US_80CCC_80CCD_80D\"><\/span><a href=\"https:\/\/www.caindelhiindia.com\/blog\/read-all-about-deduction-under-section-80c-80ccc-80ccd-80d\/\"><span style=\"color: #ff0000;\">THE DEDUCTIONS U\/S 80CCC, 80CCD &amp; 80D<\/span><\/a><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>BRIEF INTRODUCTION<\/strong><\/p>\n<p>Section 80 Deductions For\u00a0financial year\u00a02019-20 (Including Budget 2020 amendments).<\/p>\n<p>Income tax department, in order to encourage savings and investments amongst the taxpayers, introduced and provided various deductions under chapter VI A, in order to reduce their taxable income and would thereby reduce their tax payment. <a href=\"https:\/\/carajput.com\/blog\/income-tax-deduction-u-s-80c-80u\/\">80C<\/a> being\u00a0the foremost\u00a0famous, there are other deductions which are beneficial for the taxpayers\u00a0to scale back\u00a0their\u00a0liabilities.\u00a0allow us to\u00a0understand these deductions in detail:<\/p>\n<h2><span class=\"ez-toc-section\" id=\"SECTION_80C_%E2%80%93_DEDUCTIONS_ON_INVESTMENTS\"><\/span><span style=\"color: #000080;\"><strong>SECTION 80C \u2013 DEDUCTIONS ON INVESTMENTS<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>Section 80C of the\u00a0income tax\u00a0Act of India\u00a0may be a\u00a0clause that points\u00a0to numerous\u00a0expenditures and investments that are exempted from\u00a0taxation. It allows for a maximum deduction of up to Rs.1.5 lakh\u00a0per annum\u00a0from an investor\u2019s total taxable income.<\/li>\n<li>Section 80C is applicable\u00a0just for\u00a0individual taxpayers and <a href=\"https:\/\/carajput.com\/blog\/tag\/hindu-undivided-family-huf\/\">Hindu Undivided Families<\/a>. Corporate bodies, partnership firms, and other businesses\u00a0don&#8217;t seem to be\u00a0qualified to avail tax exemptions under Section 80C.<\/li>\n<li>Section 80C is\u00a0one in all\u00a0the foremost\u00a0popular and famous sections amongst the taxpayers\u00a0because it\u00a0allows\u00a0to scale back\u00a0taxable income by making tax saving investments or incurring eligible expenses. It allows a maximum deduction of Rs 1.5 lakh\u00a0once a year\u00a0from the taxpayer\u2019s total income.<\/li>\n<li>The\u00a0advantage of\u00a0this deduction\u00a0will be\u00a0availed by Individuals and HUFs. Companies, partnership firms, LLPs cannot avail the\u00a0good thing about\u00a0this deduction.<\/li>\n<li>Section 80C consists of various section, including 80CCC, 80CCD (1), 80CCD (1b) and 80CCD (2). It is important\u00a0to notice\u00a0that overall limit including the subsections for claiming deduction is Rs 1.5 lakh except\u00a0a further\u00a0deduction of Rs 50,000 allowed u\/s 80CCD(1b)<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"SUBSECTIONS_OF_SECTION_80C\"><\/span><span style=\"color: #000080;\"><strong>SUBSECTIONS OF SECTION 80C<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Under the income tax Act of India, deductions under Section 80C are divided into certain sub-sections. These are \u2013<\/p>\n<table style=\"height: 450px;\" width=\"1035\">\n<tbody>\n<tr>\n<td>TAX SAVING SECTIONS<\/td>\n<td>ELIGIBLE INVESTMENTS FOR TAX EXEMPTIONS<\/td>\n<\/tr>\n<tr>\n<td>SECTION 80C<\/td>\n<td>INVESTMENTS MADE IN PROVIDENT FUNDS, LIFE INSURANCE PREMIUMS, EQUITY LINKED SAVING SCHEMES, PAYMENT MADE TOWARDS THE PRINCIPAL SUM OF A HOME LOAN, SSY, NSC, SCSS, ETC.<\/td>\n<\/tr>\n<tr>\n<td>SECTION 80CCC<\/td>\n<td>PAYMENT MADE TOWARDS PENSION PLANS, AS WELL AS\u00a0<u>MUTUAL FUNDS<\/u>.<\/td>\n<\/tr>\n<tr>\n<td>SECTION 80CCD (1)<\/td>\n<td>PAYMENT MADE TOWARDS CERTAIN GOVERNMENT-BACKED SCHEMES SUCH AS NATIONAL PENSION SYSTEM, ATAL PENSION YOJANA, ETC.<\/td>\n<\/tr>\n<tr>\n<td>SECTION 80CCD(1B)<\/td>\n<td>INVESTMENTS OF UP TO RS.50,000 IN NPS IS CONSIDERED FOR EXEMPTION UNDER THIS SECTION.<\/td>\n<\/tr>\n<tr>\n<td>SECTION 80CCD (2)<\/td>\n<td>EMPLOYER\u2019S CONTRIBUTION TOWARDS NPS (UP TO 10%, COMPRISING BASIC SALARY AND DEARNESS ALLOWANCE, IF ANY) IS EXEMPTED UNDER THIS CATEGORY.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"INVESTMENTS_ELIGIBLE_FOR_DEDUCTION_UNDER_SECTION_80C\"><\/span><span style=\"color: #000080;\"><strong>INVESTMENTS ELIGIBLE FOR DEDUCTION UNDER SECTION 80C <\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<table style=\"height: 649px;\" width=\"1033\">\n<tbody>\n<tr>\n<td>INVESTMENT OPTIONS<\/td>\n<td>INTEREST<\/td>\n<td>MINIMUM LOCK-IN PERIOD<\/td>\n<td>ASSURED RETURN<\/td>\n<td>ASSOCIATED RISK<\/td>\n<\/tr>\n<tr>\n<td>ELSS<\/td>\n<td>12% TO 15% (DEPENDING ON MARKET FLUCTUATION)<\/td>\n<td>3 YEARS<\/td>\n<td>NO<\/td>\n<td>HIGH<\/td>\n<\/tr>\n<tr>\n<td>NPS<\/td>\n<td>8% TO 10%<\/td>\n<td>TILL THE INVESTOR REACHES 60 YEARS OF AGE (RETIREMENT)<\/td>\n<td>NO<\/td>\n<td>HIGH<\/td>\n<\/tr>\n<tr>\n<td>SCSS<\/td>\n<td>8.60%<\/td>\n<td>5 YEARS<\/td>\n<td>YES<\/td>\n<td>LOW<\/td>\n<\/tr>\n<tr>\n<td>PPF<\/td>\n<td>7.90%<\/td>\n<td>15 YEARS<\/td>\n<td>YES<\/td>\n<td>LOW<\/td>\n<\/tr>\n<tr>\n<td>NSC<\/td>\n<td>7.9%<\/td>\n<td>5 YEARS<\/td>\n<td>YES<\/td>\n<td>LOW<\/td>\n<\/tr>\n<tr>\n<td>ULIP<\/td>\n<td>8% TO 10% (DEPENDING ON MARKET FLUCTUATION)<\/td>\n<td>5 YEARS<\/td>\n<td>NO<\/td>\n<td>MODERATE<\/td>\n<\/tr>\n<tr>\n<td>FIXED DEPOSIT<\/td>\n<td>UP TO 8.40%<\/td>\n<td>5 YEARS<\/td>\n<td>YES<\/td>\n<td>LOW<\/td>\n<\/tr>\n<tr>\n<td>SUKANYA SAMRIDDHI YOJANA<\/td>\n<td>8.50%<\/td>\n<td>8 YEARS<\/td>\n<td>YES<\/td>\n<td>LOW<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3><span class=\"ez-toc-section\" id=\"LIFE_INSURANCE_PREMIUMS\"><\/span><span style=\"color: #000080;\"><strong>LIFE INSURANCE PREMIUMS <\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Premiums paid towards\u00a0insurance\u00a0policies are eligible to receive tax benefits as per 80C limit. These exemptions are available against policies held by self, spouse, dependent children, etc. Hindu Undivided\u00a0members of the family\u00a0may also\u00a0get pleasure from\u00a0the identical\u00a0exemptions.<\/p>\n<p>Currently, an annual premium of up to 10% (of the insurance policy\u2019s total sum assured) is tax exempted under this scheme. This clause has been revised on 1st April 2012,\u00a0before\u00a0which premiums of up\u00a0to twenty\u00a0(of the sum assured) was\u00a0answerable for\u00a0tax exemption under Section 80C deduction.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"PUBLIC_PROVIDENT_FUND\"><\/span><span style=\"color: #000080;\"><strong>PUBLIC PROVIDENT FUND<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Any contribution towards Public Provident Fund (PPF)\u00a0may be\u00a0filed for\u00a0write-down\u00a0under Section 80C. Public Provident Funds\u00a0include\u00a0a maximum deposit limit of Rs.1,50,000, allowing an investor\u00a0to say\u00a0the complete\u00a0deposited amount as an exemption under this\u00a0taxation\u00a0act.<\/p>\n<p>Any voluntary contribution made by the worker towards the provided fund is additionally eligible for deduction under Section 80C of the taxation Act.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"NABARD_RURAL_BONDS\"><\/span><span style=\"color: #000080;\"><strong>NABARD RURAL BONDS <\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>NABARD is the short form for National Bank for Agriculture and Rural Development. Rural Bonds offered by NABARD are eligible for tax exemption under the taxation Act of India. the utmost deductible amount is capped at Rs.1.5 lakh under Section 80C.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"UNIT_LINKED_INSURANCE_PLANS_ULIPS\"><\/span><span style=\"color: #000080;\"><strong>UNIT LINKED INSURANCE PLANS (ULIPS)<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Unit Linked Insurance Plans offer more returns\u00a0within the\u00a0long run\u00a0compared\u00a0to standard\u00a0insurance policies.\u00a0they need\u00a0become especially popular in recent years\u00a0because of\u00a0the tax benefits offered under Section 80C of the\u00a0revenue enhancement\u00a0Act, 1961. Investors can avail tax exemptions up to Rs. 1.5 lakh on the invested amount u\/s 80C\u00a0tax\u00a0provisions.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"NATIONAL_SAVINGS_CERTIFICATE\"><\/span><span style=\"color: #000080;\"><strong>NATIONAL SAVINGS CERTIFICATE <\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>NSC or National Savings Certificate is\u00a0one amongst\u00a0the foremost\u00a0popular tax-saving instruments for risk-avert individuals. Interest earned on NSC is compounded semi-annually,\u00a0and therefore the\u00a0maximum maturity period ranges from 5 to 10 years.<br \/>\nInvestors\u00a0don&#8217;t\u00a0need to\u00a0follow any limitation on\u00a0the entire\u00a0sum invested towards NSC\u00a0during a\u00a0financial year; however, only a maximum of Rs.1.5 lakh\u00a0is\u00a0subject to exemption every\u00a0year\u00a0under Section 80C.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"TAX_SAVING_FD\"><\/span><span style=\"color: #000080;\"><strong>TAX SAVING FD <\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Tax Saving FDs are fixed deposit schemes offered by both banks and post offices that allow write-off under Section 80C. These FDs generally have a lock-in period of 5 years and the maximum amount of exemption under this is subject to Rs.1.5 lakh only (on the principal amount). However, the returns of such instruments are chargeable for taxation.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"EPF\"><\/span><span style=\"color: #000080;\"><strong>EPF<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The return earned from Employee Provident Fund (EPF), including the interest, is eligible for tax exemption under Section 80C of the taxation Act, 1961. it&#8217;s only eligible for workers who have continued his or her service for a minimum of 5 years. If individuals make voluntary contributions to their EPF accounts, such amount is eligible for tax exemptions under Section 80C.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"INFRASTRUCTURE_BONDS\"><\/span><span style=\"color: #000080;\"><strong>INFRASTRUCTURE BONDS<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Section 80C of the\u00a0revenue enhancement\u00a0Act allows tax exemptions on infrastructure bonds, provided the investment is\u00a0up to\u00a0or\u00a0on top of\u00a0Rs.20,000. The limit of Rs.1.5 lakh stays applicable for these long-term secured bonds\u00a0additionally.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"EQUITY-LINKED_SAVING_SCHEME\"><\/span><span style=\"color: #000080;\"><strong>EQUITY-LINKED SAVING SCHEME<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Equity Linked Saving Schemes, or ELSS, falls under Section 80C\u2019s exemption category for up to its maximum limit (Rs.1.5 lakh). These investment schemes\u00a0include\u00a0a compulsory\u00a03-year lock-in period.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"SENIOR_CITIZENS_SAVINGS_SCHEME\"><\/span><span style=\"color: #000080;\"><strong>SENIOR CITIZENS SAVINGS SCHEME<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Any investments made towards Senior Citizens Saving Scheme, (or SCSS) is eligible for tax exemption up to the utmost allocated 80C limit, i.e., Rs. 1.5 lakh. Individuals above the age of 60 (people choosing voluntary retirement scheme is eligible to participate in SCSS after the age of 55 years) years are eligible to induce get pleasure from SCSS, which features a minimum lock-in tenure of 5 years.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"PRINCIPAL_REPAYMENT_MADE_TOWARDS_CONSUMER_CREDIT\"><\/span><span style=\"color: #000080;\"><strong>PRINCIPAL REPAYMENT MADE TOWARDS\u00a0CONSUMER CREDIT<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Only the repayments made towards the principal component of\u00a0equity credit line\u00a0EMIs are eligible for deduction under Section 80C. However, the borrower\u00a0has got to\u00a0fulfil certain clauses to avail of this benefit; these are \u2013<\/p>\n<ul>\n<li>Exemptions can only be claimed if\u00a0the development\u00a0of the property is completed.<\/li>\n<li>Transference of the property within 5 years of possession will exclude it from the tax exemptions provided under Section 80C of the\u00a0taxation\u00a0Act, 1961.<\/li>\n<li>Any amount claimed as a write-down should be taxable within the transfer year if a handover is formed after 5 years of the property\u2019s possession. Failing to satisfy this clause also will render it excluded from Section 80C\u2019s guidelines.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"STAMP_DUTY_AND_REGISTRATION_CHARGES\"><\/span><span style=\"color: #000080;\"><strong>STAMP DUTY AND REGISTRATION CHARGES<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Stamp duty and registration charges\u00a0is\u00a0considered\u00a0because the\u00a0two largest expenses made towards taking ownership of a property.\u00a0the govt\u00a0of India allows a deduction of\u00a0liabilities\u00a0till the 80C limit on the\u00a0taxation\u00a0and registration charges paid towards house procurement. However, exemptions can only be claimed\u00a0within the\u00a0year that these duties are paid; otherwise,\u00a0it&#8217;ll\u00a0not be eligible for consideration under Section 80C deduction.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"SUKANYA_SAMRIDDHI_YOJANA\"><\/span><span style=\"color: #000080;\"><strong>SUKANYA SAMRIDDHI YOJANA<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Sukanya Samriddhi Yojana\u00a0could be a\u00a0saving scheme specially designed\u00a0to fulfill\u00a0the financial requirements for a girl\u2019s education and marriage. Parents or legal guardians of\u00a0a woman\u00a0child (not older than 10 years of age) can open this account\u00a0and oldsters\u00a0of two\u00a0or more (only\u00a0just in case\u00a0of twins) girls\u00a0may\u00a0invest\u00a0during this\u00a0plan. Thus, the interest income on such investment scheme shall be eligible for exemption under Section 80C.<\/p>\n<p>Thus, we have seen that Section 80C provides for multiple investments for exemption, a rough idea about which every investor should have.\u00a0The advantages\u00a0offered by this act can help save\u00a0a considerable\u00a0amount from one\u2019s\u00a0liabilities.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-25437\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/07\/Tax-Deduction-other-than-80C.jpg\" alt=\"Tax Deduction other than 80C\" width=\"1080\" height=\"1258\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/07\/Tax-Deduction-other-than-80C.jpg 1080w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/07\/Tax-Deduction-other-than-80C-258x300.jpg 258w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/07\/Tax-Deduction-other-than-80C-879x1024.jpg 879w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/07\/Tax-Deduction-other-than-80C-768x895.jpg 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/07\/Tax-Deduction-other-than-80C-800x932.jpg 800w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/p>\n<h3><span class=\"ez-toc-section\" id=\"SECTION_80CCC_%E2%80%93_INSURANCE_PREMIUM_SECTION_80CCD_%E2%80%93_PENSION_CONTRIBUTION\"><\/span><span style=\"color: #000080;\"><strong>SECTION 80CCC \u2013 INSURANCE PREMIUM \/SECTION 80CCD \u2013 PENSION CONTRIBUTION<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<table style=\"height: 1009px;\" width=\"1012\">\n<tbody>\n<tr>\n<td><\/td>\n<td>ELIGIBLE INVESTMENTS FOR TAX DEDUCTIONS<\/td>\n<\/tr>\n<tr>\n<td width=\"150\">80 C<\/td>\n<td>80C ALLOWS DEDUCTION FOR INVESTMENT MADE IN PPF, EPF, LIC PREMIUM, EQUITY LINKED SAVING SCHEME, PRINCIPAL AMOUNT PAYMENT TOWARDS HOME LOAN, STAMP DUTY AND REGISTRATION CHARGES FOR PURCHASE OF PROPERTY, SUKANYA SMRIDDHI YOJANA (SSY), NATIONAL SAVING CERTIFICATE (NSC), SENIOR CITIZEN SAVINGS SCHEME (SCSS), ULIP, TAX SAVING FD FOR 5 YEARS, INFRASTRUCTURE BONDS ETC<\/td>\n<\/tr>\n<tr>\n<td width=\"150\">80CCC DEDUCTION FOR LIFE INSURANCE ANNUITY PLAN.<\/td>\n<td>80CCC ALLOWS DEDUCTION FOR PAYMENT TOWARDS ANNUITY PENSION PLANS PENSION RECEIVED FROM THE ANNUITY OR AMOUNT RECEIVED UPON SURRENDER OF THE ANNUITY, INCLUDING INTEREST OR BONUS ACCRUED ON THE ANNUITY, IS TAXABLE IN THE YEAR OF RECEIPT.<\/td>\n<\/tr>\n<tr>\n<td width=\"150\">80CCD (1) DEDUCTION FOR INVESTMENT IN NPS<\/td>\n<td><strong>EMPLOYEE\u2019S CONTRIBUTION, SUBJECT TO<\/strong> MAXIMUM OF LEAST OF THE FOLLOWING &#8211;<\/p>\n<ul>\n<li>10% OF SALARY (IN CASE TAXPAYER IS EMPLOYEE)<\/li>\n<li>20&amp; OF GROSS TOTAL INCOME (IN CASE OF SELF EMPLOYED)<\/li>\n<li>RS 1.5 LAKH (LIMIT ALLOWED U\/S 80C)<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"150\">80CCD (1B) DEDUCTION FOR NPS<\/td>\n<td><strong>ADDITIONAL DEDUCTION OF RS 50,000 IS ALLOWED FOR AMOUNT DEPOSITED TO NPS ACCOUNT<\/strong><\/p>\n<p><strong>CONTRIBUTIONS TO ATAL PENSION YOJANA IS ALSO ELIGIBLE FOR DEDUCTION.<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"150\">80CCD (2) DEDUCTION FOR NPS<\/td>\n<td><strong>EMPLOYERS CONTRIBUTION<\/strong>\u00a0IS ALLOWED FOR DEDUCTION UPTO 10% OF BASIC SALARY PLUS DEARNESS ALLOWANCE UNDER THIS SECTION. BENEFIT IN THIS SECTION IS ALLOWED ONLY TO SALARIED INDIVIDUALS AND NOT SELF EMPLOYED.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3><span class=\"ez-toc-section\" id=\"INVESTMENT_OPTIONS_UNDER_SECTION_80_C\"><\/span><span style=\"color: #000080;\"><strong>INVESTMENT OPTIONS UNDER SECTION 80 C <\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<table style=\"height: 708px;\" width=\"1029\">\n<tbody>\n<tr>\n<td>INVESTMENT OPTIONS<\/td>\n<td>AVERAGE INTEREST<\/td>\n<td>LOCK IN PERIOD FOR<\/td>\n<td>RISK FACTOR<\/td>\n<\/tr>\n<tr>\n<td>ELSS FUNDS<\/td>\n<td>12% \u2013 15%<\/td>\n<td>3 YEARS<\/td>\n<td>HIGH<\/td>\n<\/tr>\n<tr>\n<td>NPS SCHEME<\/td>\n<td>8% \u2013 10%<\/td>\n<td>TILL 60 YEARS OF AGE<\/td>\n<td>HIGH<\/td>\n<\/tr>\n<tr>\n<td>ULIP<\/td>\n<td>8% \u2013 10%<\/td>\n<td>5 YEARS<\/td>\n<td>MEDIUM<\/td>\n<\/tr>\n<tr>\n<td>TAX SAVING FD<\/td>\n<td>7% \u2013 8%<\/td>\n<td>5 YEARS<\/td>\n<td>LOW<\/td>\n<\/tr>\n<tr>\n<td>PPF<\/td>\n<td>7.10%<\/td>\n<td>5 YEARS<\/td>\n<td>LOW<\/td>\n<\/tr>\n<tr>\n<td>SENIOR CITIZEN SAVINGS SCHEME<\/td>\n<td>7.4%<\/td>\n<td>5YEARS\u00a0(CAN BE EXTENDED FOR OTHER 3 YEARS)<\/td>\n<td>LOW<\/td>\n<\/tr>\n<tr>\n<td>NATIONAL<\/td>\n<td>6.8%<\/td>\n<td>5 YEARS<\/td>\n<td>LOW<\/td>\n<\/tr>\n<tr>\n<td>SUKANYA SAMRIDDHI YOJANA<\/td>\n<td>8.4%<\/td>\n<td>TILL GIRL CHILD REACHES 21 YEARS OF AGE. HOWEVER, PARTIAL WITHDRAWALS CAN BE MADE AFTER SHE REACHES 18 YEARS.<\/td>\n<td>LOW<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Sometimes,\u00a0you&#8217;ll\u00a0have deductions or investments eligible for 80C, but haven\u2019t submitted the proofs to your employer.\u00a0this could\u00a0cause to additional TDS deductions.\u00a0you&#8217;ll be able to\u00a0still claim these deductions while e-filing, as long as\u00a0you&#8217;ve got\u00a0the proofs with you.<br \/>\nSection 80 TTA \u2013 Interest on\u00a0bank account<\/p>\n<h3><span class=\"ez-toc-section\" id=\"DEDUCTION_FOR_INTEREST_ON_SAVINGS_CHECKING_ACCOUNT\"><\/span><span style=\"color: #000080;\"><strong>DEDUCTION FOR INTEREST ON SAVINGS\u00a0CHECKING ACCOUNT<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>If\u00a0you&#8217;re\u00a0an individual\u00a0or an HUF,\u00a0you will\u00a0claim a deduction of maximum Rs 10,000 against interest income from your\u00a0bank account\u00a0with a bank, co-operative society, or post office. Do include the interest from savings\u00a0checking account\u00a0in other income.<\/p>\n<p>Section 80TTA deduction\u00a0isn&#8217;t\u00a0available on interest income from fixed deposits, recurring deposits, or interest income from corporate bonds.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"SECTION_80GG_%E2%80%93_HOUSE_RENT_PAID\"><\/span><span style=\"color: #000080;\"><strong>SECTION 80GG \u2013 HOUSE RENT PAID<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Deduction for House Rent Paid Where HRA\u00a0isn&#8217;t\u00a0Received<\/p>\n<ul>\n<li>Section 80GG deduction\u00a0is accessible\u00a0for rent paid when HRA\u00a0isn&#8217;t\u00a0received. The taxpayer, spouse or minor child\u00a0shouldn&#8217;t\u00a0own residential accommodation at the place of employment<\/li>\n<li>The taxpayer\u00a0mustn&#8217;t\u00a0have self-occupied residential property in\u00a0the other\u00a0place<\/li>\n<li>The taxpayer must be living on rent and paying rent<\/li>\n<li>The deduction\u00a0is out there\u00a0to any or all\u00a0individuals<\/li>\n<\/ul>\n<p>Deduction available\u00a0is that the\u00a0least of the following:<\/p>\n<ul>\n<li>Rent paid minus 10% of adjusted total income<\/li>\n<li>Rs 5,000\/- per month<\/li>\n<li>25% of adjusted total income*<\/li>\n<\/ul>\n<p>*Adjusted Gross Total Income is\u00a0fell upon\u00a0after adjusting the Gross Total Income\u00a0sure\u00a0deductions, exempt income, long-term capital gains and income\u00a0associated with\u00a0non-residents and foreign companies.<\/p>\n<p>An online e-filing software like that of Clear Tax will be extremely easy because the limits are auto-calculated. So, you are doing not must worry about making complex calculations. From FY 2016-17 available deduction has been raised to Rs 5,000 a month from Rs 2,000 per month.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"SECTION_80E_%E2%80%93_INTEREST_ON_EDUCATION_LOAN\"><\/span><span style=\"color: #000080;\"><strong>SECTION 80E \u2013 INTEREST ON EDUCATION LOAN<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Deduction for Interest on Education Loan for Higher Studies. A deduction is allowed to\u00a0a personal\u00a0for interest on loans taken for pursuing\u00a0educational activity. This loan may\u00a0be\u00a0taken for the taxpayer, spouse or children or for a student for whom the taxpayer\u00a0may be a\u00a0trustee.<\/p>\n<p>80E deduction\u00a0is offered\u00a0for a maximum of 8 years (beginning the year\u00a0during which\u00a0the interest starts getting repaid) or till\u00a0the whole\u00a0interest is repaid, whichever is earlier.\u00a0there&#8217;s\u00a0no restriction on\u00a0the number\u00a0that may\u00a0be claimed.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"SECTION_80EE_%E2%80%93_INTEREST_ON_HOME_EQUITY_LOAN\"><\/span><span style=\"color: #000080;\"><strong>SECTION 80EE \u2013 INTEREST ON\u00a0HOME EQUITY LOAN<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Deductions on home equity credit Interest for First Time Home Owners. FY 2017-18 and FY 2016-17 This deduction is offered in FY 2017-18 if the loan has been taken in FY 2016-17. The deduction under section 80EE is accessible only to home-owners (individuals) having just one house property on the date of sanction of the loan. the worth of the property must be but Rs 50 lakh and therefore the equity credit line must be but Rs 35 lakh.<\/p>\n<p>The loan taken from an establishment must are sanctioned between 1 April 2016 and 31 March 2017. there&#8217;s an extra deduction of Rs 50,000 available on your home equity credit interest on top of deduction of Rs 2 lakh (on interest component of equity credit line EMI) allowed under section 24.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"SECTION_80D_%E2%80%93_MEDICAL_INSURANCE\"><\/span><span style=\"color: #000080;\"><strong>SECTION 80D \u2013 MEDICAL INSURANCE<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Deduction for the premium\u00a0bought\u00a0Medical Insurance. You (as\u00a0an individual\u00a0or HUF) can claim a deduction of Rs.25,000 under section 80D on insurance for self, spouse and dependent children.\u00a0an extra\u00a0deduction for insurance\u00a0of fogeys\u00a0is out there\u00a0up to Rs 25,000, if\u00a0they&#8217;re\u00a0but\u00a060 years\u00a0old. If\u00a0the fogeys\u00a0are aged above 60, the deduction amount is Rs 50,000, which has been increased in Budget 2018 from Rs 30,000.<\/p>\n<p>In case, both taxpayer and parent(s) are 60 years or above,\u00a0the utmost\u00a0deduction available under this section is up to Rs.1 lakh.<\/p>\n<p><strong>EXAMPLE<\/strong><\/p>\n<p>Rohan\u2019s age is 65 and his father\u2019s age is 90.\u00a0during this\u00a0case,\u00a0the most\u00a0deduction Rohan can claim under section 80D is Rs. 100,000, however, with effect from FY 2015-16, an additional deduction of Rs. 5,000 shall be allowed for preventive\u00a0checkup, but the same will be provided cumulatively.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"SECTION_80DD_%E2%80%93_DISABLED_DEPENDENT\"><\/span><span style=\"color: #000080;\"><strong>SECTION 80DD \u2013 DISABLED DEPENDENT<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Deduction for Rehabilitation of Handicapped Dependent Relative. Section 80DD deduction\u00a0is offered\u00a0to a resident individual or a HUF and\u00a0is obtainable\u00a0on:<\/p>\n<ul>\n<li>Expenditure incurred on medical treatment (including nursing), training and rehabilitation of handicapped dependent relative<\/li>\n<li>Payment or deposit to specified scheme for maintenance of handicapped dependent relative.<\/li>\n<li>Where disability is 40% or more but\u00a0but\u00a080% \u2013 fixed deduction of Rs 75,000.<\/li>\n<li>Where there&#8217;s severe disability (disability is 80% or more) \u2013 fixed deduction of Rs 1,25,000.<\/li>\n<\/ul>\n<p>To claim this deduction a certificate of disability is required from prescribed medical authority. With effect from FY 2015-16, the amount of deduction under this section has been raised from Rs 50,000 to Rs 75,000 and the amount of Rs 1,00,000 has been raised to Rs 1,25,000.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"SECTION_80DDB_%E2%80%93_MEDICAL_EXPENDITURE\"><\/span><span style=\"color: #000080;\"><strong>SECTION 80DDB \u2013 MEDICAL EXPENDITURE<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"padding-left: 40px;\">Deduction for Medical Expenditure on Self or Dependent Relative<\/p>\n<ol>\n<li>For people\u00a0and HUFs below age 60<\/li>\n<\/ol>\n<p style=\"padding-left: 40px;\">A deduction up to Rs.40,000\u00a0is offered\u00a0to a resident individual or a HUF.\u00a0it&#8217;s\u00a0available with\u00a0relevance\u00a0any expense incurred towards treatment of specified medical diseases or ailments for himself or any of his dependents. For an HUF, such a deduction\u00a0is offered\u00a0with\u00a0regard to\u00a0medical expenses incurred towards these prescribed ailments for any of the HUF members.<\/p>\n<ol start=\"2\">\n<li>For senior citizens and super senior citizens<\/li>\n<\/ol>\n<p style=\"padding-left: 40px;\">In case the individual on behalf of whom such expenses are incurred\u00a0could be an\u00a0adult, the individual or HUF taxpayer can claim a deduction up to Rs 1 lakh. Until FY 2017-18, the deduction\u00a0that might\u00a0be claimed for an\u00a0adult\u00a0and\u00a0an excellent\u00a0grownup\u00a0was Rs 60,000 and Rs 80,000 respectively. This has now become\u00a0a typical\u00a0deduction available up to Rs 1 lakh for all senior citizens (including super senior citizens) unlike earlier.<\/p>\n<ol start=\"3\">\n<li>For reimbursement claims<\/li>\n<\/ol>\n<p style=\"padding-left: 40px;\">Any reimbursement of medical expenses by an insurer or employer shall be reduced from the quantum of deduction the taxpayer can claim under this section.<br \/>\nAlso remember\u00a0that you just\u00a0have to\u00a0get a prescription for such medical treatment from the concerned specialist\u00a0so as\u00a0to assert\u00a0such deduction. Read our detailed article on Section 80DDB.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"SECTION_80U_%E2%80%93_PHYSICAL_DISABILITY\"><\/span><span style=\"color: #000080;\"><strong>SECTION 80U \u2013 PHYSICAL DISABILITY<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Deduction for Person\u00a0laid low with\u00a0Physical Disability. A deduction of Rs.75,000\u00a0is accessible\u00a0to a resident individual who suffers from a physical disability (including blindness) or\u00a0sub normality.\u00a0just in case\u00a0of severe disability, one can claim a deduction of Rs 1,25,000.<br \/>\nFrom FY 2015-16 \u2013 Section 80U deduction limit of Rs 50,000 has been raised to Rs 75,000 and Rs 1,00,000 has been raised to Rs 1,25,000.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"SECTION_80G_%E2%80%93_DONATIONS\"><\/span><span style=\"color: #000080;\"><strong>SECTION 80G \u2013 DONATIONS<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Deduction for donations towards Social Causes. The various donations\u00a0laid out in\u00a0u\/s 80G are eligible for deduction up to either 100% or 50% with or without restriction.<\/p>\n<p>From FY 2017-18 any donations made in cash exceeding Rs 2,000\u00a0won&#8217;t\u00a0be allowed as deduction. The donations above Rs 2000 should be made in any mode\u00a0aside from\u00a0cash to qualify for 80G deduction.<\/p>\n<ol>\n<li>Donations with 100% deduction\u00a0with none\u00a0qualifying limit<\/li>\n<\/ol>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>National Defense Fund\u00a0founded\u00a0by the Central Government<\/li>\n<li>Prime Minister\u2019s National Relief Fund<\/li>\n<li>National Foundation for Communal Harmony<\/li>\n<li>An approved university\/educational institution of National eminence<\/li>\n<li>Zila Saksharta Samiti constituted in any district under the chairmanship of the Collector of that district<\/li>\n<li>Fund\u00a0founded\u00a0by a\u00a0regime\u00a0for the medical relief to the poor<\/li>\n<li>National Illness Assistance Fund<\/li>\n<li>National\u00a0introduction\u00a0Council or to any State\u00a0transfusion\u00a0Council<\/li>\n<li>National Trust for Welfare of Persons with Autism,\u00a0brain disorder,\u00a0stupidity\u00a0and Multiple Disabilities<\/li>\n<li>National Sports Fund<\/li>\n<li>National Cultural Fund<\/li>\n<li>Fund for Technology Development and Application.<\/li>\n<li>National Children\u2019s Fund<\/li>\n<li>Chief Minister\u2019s Relief Fund or Lieutenant Governor\u2019s Relief Fund maintained by\u00a0any State or Union Territory<\/li>\n<li>The Army Central Welfare Fund or the Indian Naval Benevolent Fund or the Air Force Central Welfare Fund,\u00a0Andhra Pradesh\u00a0Chief Minister\u2019s Cyclone Relief Fund, 1996<\/li>\n<li>The Maharashtra Chief Minister\u2019s Relief Fund during October 1, 1993 and October 6,1993<\/li>\n<li>Chief Minister\u2019s Earthquake Relief Fund, Maharashtra<\/li>\n<li>Any fund\u00a0founded\u00a0by the\u00a0authorities\u00a0of Gujarat exclusively for providing relief to the victims of earthquake in Gujarat<\/li>\n<li>Any trust, institution or fund, charged under Section 80G(5C) in respect of providing relief to the victims of earthquake in Gujarat or<\/li>\n<li>Prime Minister\u2019s Armenia Earthquake Relief Fund<\/li>\n<li>Africa (Public Contributions \u2014 India) Fund<\/li>\n<li>Swachh Bharat Kosh (applicable from\u00a0year\u00a02014-15)<\/li>\n<li>Clean Ganga Fund (applicable from\u00a0year\u00a02014-15)<\/li>\n<li>National Fund for Control of\u00a0habit\u00a0(applicable from\u00a0twelvemonth\u00a02015-16)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ol start=\"2\">\n<li>Donations with 50% deduction\u00a0with none\u00a0qualifying limit<\/li>\n<\/ol>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>Jawaharlal Nehru Memorial Fund<\/li>\n<li>Prime Minister\u2019s Drought Relief Fund<\/li>\n<li>Indira Gandhi Memorial Trust<\/li>\n<li>The Rajiv Gandhi Foundation<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ol start=\"3\">\n<li>Donations to\u00a0the subsequent\u00a0are eligible for 100% deduction subject to 10% of adjusted gross total income<\/li>\n<\/ol>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>Government or any approved\u00a0agency, institution or association to be utilized for\u00a0the aim\u00a0of promoting\u00a0birth control<\/li>\n<li>Donation by\u00a0an organization\u00a0to the Indian Olympic Association or to\u00a0the other\u00a0notified association or institution established in India for\u00a0the event\u00a0of infrastructure for sports and games in India or the sponsorship of sports and games in India<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ol start=\"4\">\n<li>Donations to\u00a0the subsequent\u00a0are eligible for 50% deduction subject to 10% of adjusted gross total income<\/li>\n<\/ol>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>Any other fund or any institution which satisfies conditions mentioned in Section 80G (5)<\/li>\n<li>Government or any\u00a0authority\u00a0to be utilized for any charitable purpose\u00a0aside from\u00a0the aim\u00a0of promoting\u00a0planning<\/li>\n<li>Any authority constituted in India for\u00a0the aim\u00a0of\u00a0coping with\u00a0and satisfying\u00a0the requirement\u00a0for housing accommodation or for\u00a0the aim\u00a0of coming up with, development or improvement of cities, towns, villages or both<\/li>\n<li>Any corporation, as provided under Section 10(26BB), in order to promote interest of minority community<\/li>\n<li>Amount spend on repairs or renovation of any notified temple, mosque, gurudwara, church or other places.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"SECTION_80GGB_%E2%80%93_COMPANY_CONTRIBUTION\"><\/span><span style=\"color: #000080;\"><strong>SECTION 80GGB \u2013 COMPANY CONTRIBUTION<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Deduction in respect of contributions made by companies to Political Parties.<\/li>\n<li>Section 80GGB deduction is allowed to an Indian company for the quantity contributed by it to any organization or an electoral trust.<\/li>\n<li>Deduction is allowed for contribution done by any way apart from cash.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"SECTION_80GGC_%E2%80%93_CONTRIBUTION_TO_POLITICAL_PARTIES\"><\/span><span style=\"color: #000080;\"><strong>SECTION 80GGC \u2013 CONTRIBUTION TO POLITICAL PARTIES<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Deduction on contributions given by a person to Political Parties. Deduction under section 80GGC is allowed to an individual taxpayer for any amount contributed to a party or an electoral trust. it&#8217;s not available for companies, local authorities and a man-made juridical person wholly or partly funded by the govt. you&#8217;ll be able to avail this deduction given that you pay by any way apart from cash.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"SECTION_80RRB_%E2%80%93_ROYALTY_OF_A_PATENT\"><\/span><span style=\"color: #000080;\"><strong>SECTION 80RRB \u2013 ROYALTY OF A PATENT<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Deduction with\u00a0relation to\u00a0any Income by way of Royalty of a Patent. This section provides deduction in respect of income received in the form of royalty for a patent, registered on or after 1 April 2003 under the Patents Act 1970, and the same shall be subject to a maximum of Rs.3 lakh or the income received, whichever\u00a0is a less. The taxpayer must be\u00a0a personal\u00a0patentee and an Indian resident. The taxpayer must furnish a certificate\u00a0within the\u00a0prescribed form duly signed by the prescribed authority.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"SECTION_80_TTB_%E2%80%93_INTEREST_INCOME\"><\/span><span style=\"color: #000080;\"><strong>SECTION 80 TTB \u2013 INTEREST INCOME<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Deduction of Interest on Deposits for Senior Citizens. A new section 80TTB has been inserted vide Budget 2018\u00a0within which\u00a0deductions with\u00a0reference to\u00a0interest income from deposits held by senior citizens\u00a0are\u00a0allowed. The limit for this deduction is Rs.50,000.<br \/>\nNo further deduction under section 80TTA shall be allowed. additionally, to section 80 TTB, section 194A of the Act also will be amended so on increase the brink limit for TDS on interest income payable to senior citizens. the sooner limit was Rs 10,000, which was increased to Rs 50,000 as per the newest Budget.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-24665\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/07\/80c.jpg\" alt=\"80c\" width=\"1080\" height=\"873\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/07\/80c.jpg 1080w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/07\/80c-300x243.jpg 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/07\/80c-1024x828.jpg 1024w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/07\/80c-768x621.jpg 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/07\/80c-800x647.jpg 800w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/p>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_is_Capital_Gain_Exemption\"><\/span><span style=\"color: #000080;\"><strong>What is Capital Gain Exemption ?\u00a0<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Term of Capital gains exemption is referred to as benefit provided by the government to taxpayers, easing the burden of paying tax on capital gains,\u00a0 The requirement to pay capital gains tax arises when a taxpayer sells an asset (other than stock used in the business &amp; personal property) for a profit.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-25322\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/01\/photo_2023-08-30_12-49-14.jpg\" alt=\"summary of capital gain exemption\" width=\"1260\" height=\"823\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/01\/photo_2023-08-30_12-49-14.jpg 1260w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/01\/photo_2023-08-30_12-49-14-300x196.jpg 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/01\/photo_2023-08-30_12-49-14-1024x669.jpg 1024w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/01\/photo_2023-08-30_12-49-14-768x502.jpg 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/01\/photo_2023-08-30_12-49-14-800x523.jpg 800w\" sizes=\"(max-width: 1260px) 100vw, 1260px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tax_planning_on_capital_Gain\"><\/span><span style=\"color: #000080;\"><strong>Tax planning on capital Gain<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-25736\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/07\/photo_2023-12-11_17-50-12.jpg\" alt=\"way of Transfer of Assets \" width=\"896\" height=\"880\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/07\/photo_2023-12-11_17-50-12.jpg 500w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/07\/photo_2023-12-11_17-50-12-300x295.jpg 300w\" sizes=\"(max-width: 896px) 100vw, 896px\" \/><\/p>\n<h3><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-25738\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/07\/photo_2023-12-11_17-50-05.jpg\" alt=\"Tax planning on capital Gain\" width=\"980\" height=\"800\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/07\/photo_2023-12-11_17-50-05.jpg 527w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/07\/photo_2023-12-11_17-50-05-300x245.jpg 300w\" sizes=\"(max-width: 980px) 100vw, 980px\" \/><\/h3>\n<p><strong>Popular blog:<\/strong><\/p>\n<ul>\n<li><a href=\"https:\/\/carajput.com\/publications\/all-the-provision-of-taxation-of-income-from-capital-gains.pdf\">All about the Income taxation on capital gain\u00a0<\/a><\/li>\n<li><a href=\"https:\/\/carajput.com\/learn\/deductions-under-section-80ccd-of-income-tax-act.html\">Deduction u\/s 80CCD of Income Tax Act, 1961<\/a><\/li>\n<li><a href=\"https:\/\/carajput.com\/blog\/how-to-file-tds-return-online\/\">How to file a return of TDS online<\/a><\/li>\n<li><a href=\"https:\/\/carajput.com\/blog\/new-revise-tds-tcs-return-filing-due-date-payment-due-date\/\">New revise TDS\/TCS due date for filing Return and Payment for the year 2020<\/a><\/li>\n<li><a href=\"https:\/\/carajput.com\/learn\/new-tds-deduction-provision-prevent-cash-transactions-of-more-than-1-crore-section-194n.html\">New TDS deduction No cash transactions exceeding 1 Crore -Section 194N<\/a>V<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>THE DEDUCTIONS U\/S 80CCC, 80CCD &amp; 80D BRIEF INTRODUCTION Section 80 Deductions For\u00a0financial year\u00a02019-20 (Including Budget 2020 amendments). Income tax department, in order to encourage savings and investments amongst the taxpayers, introduced and provided various deductions under chapter VI A, in order to reduce their taxable income and would thereby reduce their tax payment. 80C &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[9972],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/13224"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=13224"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/13224\/revisions"}],"predecessor-version":[{"id":25740,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/13224\/revisions\/25740"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=13224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=13224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=13224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}