DEDUCTION u/s 80 C (In respect of certain amount invested/deposited/Expended)

This deduction is available to Individual Assessee and HUF Assessee

(I) Life Insurance Premium on policy taken on the life of an individual assessee or spouse
and any child of such individual. (May be married or unmarried, dependent or nor
dependent)
• In case of HUF, premium may be paid for any member of the family.

Premium paid on insurance policy Amount of premium eligible of deduction

Policy issued before 1.4.2012 20% of the capital sum assured

Policy issued on for after 1.4.2012 10% of the capital sum assured

Policy issued on or after 1.4.2013 on life of 15% of the capital sum assured
the person with disability u/s 80U
 DEDUCTION u/s 80 C (In respect of certain amount invested/deposited/Expended)
This deduction is available to Individual Assessee and HUF Assessee

(ii) Amount paid for a non-cummulative deferred annuity Plan taken on the life of an individual assessee or spouse
and any child of such individual
(iii) Deduction from the salary of the Government employee for securing to him a deferred annuity or making
provision for his/ her spouse or children.
(iv) Any Employee’s contribution recognised provident fund or an approved superannuation fund.

(v) Any contribution to a PPF (Public Provident Fund) by individual

(vi) Subscription to other notified National savings certificates (NSC).
(vii) Contributions made by an individua for participation in the Unit-Linked Insurance Plan, (ULIP) 1971,
(viii) Any subscription, to any units of any Mutual Fund or the Unit Trust of India under any notified plan formulated
by the Central Government.
(ix) Subscription to the notified deposit scheme of or contribution to any such pension fund set up by the National
Housing Bank.

(x) Only tuition fees (excluding any payment towards any development fees or donation or payment of similar nature
for full time education of any 2 children) to any university, college, school or other educational institution wthin India
 DEDUCTION u/s 80 C (In respect of certain amount invested/deposited/Expended)
(xi) Re-payment of the Principal amount borrowed by the assessee For purchase or construction of a residential
house property from –
(1) the Government; or (2) any bank, including a co-operative bank, or (3) the Life Insurance Corporation, or (4) the
National Housing Bank, or (5) any public company
Providing long-term finance for the construction or purchase of houses in India (6) any co-operative society, (7) the
assessee’s employer where such employer is a public company or a public sector company or a university or local
authority
(xii) Subscription to equity shares or debentures or units forming part of any eligible issue of capital
(xiii) Fixed deposits (Term Deposit) for a minimum period of 5 years in any Scheduled Banks.
(xix) As subscription to such bonds issued by the NABARD
(xx) In an account under the Senior Citizens Savings Scheme Rules, 2004.

(xxi) five year time deposit in an account under the Post Office Time Deposit Rules, 1981.
AMOUNT OF DEDUCTION u/s 80 C
( I ) TOTAL AMOUNT OF ALL ABOVE PAYMENTS OR CONTRIBUTION

OR

( 2) Rs. 1,50,000
WHICH EVER IS LESS IS ALLOWED AS DEDUCTION u/s 80 C
 DEDUCTION IN RESPECT OF MEDICAL INSURANCE PREMIA
(SECTION 80D)

Medical Insurance Premium paid (otherwise than cash) for health or paid for preventive health check up
(Max 5000) for -
•himself,
•spouse,
• dependent children
AMOUNT OF DEDUCTION
Up to Rs. 25,000
( Rs. 50,000 if any one of above member is senior citizen i.e. 60+ yrs)

Medical Insurance Premium paid (otherwise than cash) for health or paid for preventive health check
up (Max 5000) for

•PARENTS ( Whether dependent or not)

AMOUNT OF DEDUCTION
Up to Rs. 25,000
( Rs. 50,000 if any mother/father is/are senior citizen i.e. 60+ yrs)
DEDUCTION IN RESPECT OF MAINTENANCE INCLUDING MEDICAL TREATMENT OF A
DEPENDANT WHO IS A PERSON WITH DISABILITY
[SECTION 80DD]
• Dependent may be spouse, children, parents, brothers, sisters
of assessee
•Such person should not avail deduction u/s 80 U
• disability means atleast 40% blindness, mental retardation,
Locomotors disability, hearing impairment etc.
•Maintenance may include expenses on medical treatment or
deposit in the name of dependent disable scheme framed by
LIC.

AMOUNT OF DEDUCTION ( Fixed amount….actual expenses/ deposit

not noticable)

• Rs 75,000

• Rs. 1,25,000 ( in case of disability over 80%)

 DEDUCTION IN RESPECT OF REPAYMENT OF LOAN TAKEN FOR HIGHER EDUCATION
(SECTION 80E)

The deduction of an amount actually paid by an individual during

the previous year out of his income chargeable to tax by way of an
interest on loan, taken by him from any financial institution or any
approved charitable institution for the purpose of pursuing his
higher education.
The deduction will be available in computing the total income in
respect of initial assessment years (i.e. The A.Y. relevant to P.Y. in
which the assesse starts paying interest on loan) and the seven
assessment years immediately succeeding the initial assessment
year or until the interest thereon is paid by such individual in full,
whichever is earlier.
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 DEDUCTION IN RESPECT OF RENT PAID
(SECTION 80GG)

conditions to be satisfied
– The assessee should not be receiving any house rent allowance (HRA)
– The accommodation should be occupied by the assessee for the his own
residence.
– accommodation at the place where he ordinarily resides or performs
duties of his office or employment or carries on his business or profession.
– If the assessee should not owns any other self occupied accommodation
at any place other than that referred to above,
DEDUCTION IN RESPECT OF INTEREST ON DEPOSITS IN BANK SAVINGS ACCOUNT
(SECTION 80TTA)

Deduction upto Rs. 10,000 shall be allowed in computing the

total income of the assessee.

DEDUCTION IN RESPECT OF INTEREST ON DEPOSITS by SENIOR CITIZEN

(SECTION 80TTB)
 DEDUCTION IN CASE OF A PERSON WITH DISABILITY (SECTION 80U)

Amount of deduction:
In computing the total income of an individual being a resident, who, at any time during
the previous year is certified by the medical authority to be a person with disability

• Allowed a deduction a sum of Rs. 75,000.

• If severe disability (Disability Above 80%) “Rs. 1,25,000”.