Deductions under section 80

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IT Return of Individual AY 2015-2016

More deductions Under Section 80

Section 80D: Deductions for Medical Insurance

Deductions for Medical Insurance or Preventive Health Check-Up fees or Medical Expenditure incurred by you.

	For Self and Family	For Parents

Medical Insurance Premium
Medical insurance premium paid by you for Self, Spouse, Dependent Children and Parents.

Preventive Health Check-Up Fees
Health check-up expenses paid by you for Self, Spouse, Dependent Children and Parents.


Medical Expenditure
This expenditure can be claimed only for senior citizens who don't have medical insurance policy.

Section 80E - Education Loan on higher studies (Graduate or PostGraduate)

You can claim tax deduction on the interest paid on an education loan for higher studies

Interest on higher education loan paid this year
Interest paid by you on loan taken out by you. Loan can be for yourself or your spouse or your children

Section 80CCC - Contribution to Pension Plan / Annuity Fund

Contribution amount to Pension Plan / Annuity Fund for Section 80CCC

Section 80CCD(1) - Employee Contribution to New Pension Scheme (NPS).

Employee's contribution to the New Pension System (NPS).

The deduction under section 80CCD(1) is limited to Rs. 1,00,000.
The aggregate deduction for Section 80C + 80CCC + 80CCD(1) is Rs. 1,50,000.

Contribution towards Section 80CCD(1)

Section 80CCD(2) - Employer Contribution in NPS

Employers contribution towards NPS (upto 10% of Salary).

The following deductions are applicable less often.

Section 80CCG - Rajiv Gandhi Equity Saving Scheme

Investment made under Rajiv Gandhi Equity Saving Scheme

Section 80GG - Deduction for House Rent. Self-employed or Salary with no HRA.

Not a commonly applicable deduction. Please be careful while claiming. If you receive HRA benefit, then you cannot claim this deduction. If you are looking to claim HRA, then refer to the HRA exemption in the Salary section in INCOME SOURCES.

Eligibility: Your spouse or minor child should not own House Property in same town where paying rent. Self occupied house property Interest deduction should not have been availed.

Rent Paid Per Month

Number of Months Rent Paid

Section 80DDB: Deductions for treatment of specified diseases and ailments

This deduction is for certain specified diseases. (It is not a commonly applicable deduction). Please be careful while claiming this deduction.

Medical Treatment Costs for specified Diseases under Section 80DDB

Age of person for whom deduction is being claimed.

Section 80EE - Interest on Home Loan

Eligibility: Deduction under section 80EE is available on interest on loan taken from a financial institution on your first house purchased. This loan should be sanctioned between April 1st, 2014 to March 31st 2015. The value of the house can be upto Rs. 40 Lakhs and the total home loan can be upto Rs. 25 Lakhs. Deduction can be claimed upto Rs. 50,000

Deductions under Section 80EE

Section 80QQB - Royalty Received on books

Deduction for Author of literary/scientific/artistic book. Royalty/copyright-fees/lump-sum consideration are eligible for deduction.

Enter the deduction amount

Section 80RRB - Income on Patents/Inventions

Deduction for Patentee - Royalty/transfer-of-rights/lump-sum consideration are eligible for deduction.

Enter the deduction amount

Section 80GGC - Contribution To Political Party

Contribution or Donations to Political Party

Section 80JJA

Deduction exempting profits from bio-degradable waste business

Section 80GGA : Contribution to research or rural development

For example, Helpage India and CRY are eligible under Section 80GGA

Contribution to Research & Development or Rural Development

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