Income Tax deduction/exemption limits for the fnancial year 2013-14

Secti
on
Particulars
aximum !eduction/ "xemption
#imit
24(b) Interest charged on housing Loan
Self Occupied : Rs.1,!,!!!"#
Let out : $s per I% &or'ings
(!)
*ro+ident ,und, LI), %a- Sa+ings
.eposit, %uition ,ees, /S),
*rincipal portion of housing loan
repa01ent etc
Rs. 1,!!,!!!"#
$ote% LI) pre1iu1 cannot e-ceed
1!2 of su1 assured if polic0 is issued
on or after 1.!4.2!12.
(!. 3ealth insurance pre1iu1 paid
,a1il0 : Rs. 1!!!"#
Senior )iti4en : additional deduction
Rs.!!!"#
*arents : Rs.1!!!"# (Senior.
Rs.2!!!!"#)
(!..
(!5
6edical treat1ent of a
handicapped dependent &ho is a
person &ith disabilit0
*erson &ith disabilit0
.isabilit0 belo& 4!2 : /il
4!2 to belo& (!2 : Rs. !,!!!"#
(!2 and abo+e : Rs. 1,!!,!!!"#
$ote% 6edical certi7cate issued b0
the 6edical authorit0 should be
for&arded to 3O. 6edical authorit0
1eans an0 hospital or institution
speci7ed b0 noti7cation b0 the
appropriate 8o+ern1ent for the
purpose of the *ersons &ith
.isabilities (9:ual Opportunities,
*rotection of Rights and ,ull
*articipation) $ct 1;;.
(!9
Interest paid on educational loan
ta'en for higher education of
indi+idual, spouse or children
$ctual a1ount paid during the
7nancial 0ear.
/ote: Loan should be in the na1e of
the sta<
$ll sta< 1e1bers are ad+ised to +isit the o=cial &ebsite of the Inco1e %a-
.epart1ent (&&&.inco1eta-india.go+.in) and +erif0 the infor1ation 0ourself.