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Deductions

Deduction in respect of rent paid – 80GG • Individual and HUF • Conditions to be satisfied:  should not be receiving HRA except u/s 10(13A)  expenditure on rent should exceed 10% of his total income after all deductions except under this section  accommodation occupied by the assessee for his own residence  should not own any accommodation at the place where he normally resides .

000 p.Deduction in respect of rent paid – 80GG (contd. • .m. 2.) Deduction allowed is least of the following:  actual rent – 10% of the total income of the assessee  25% of such total income  amount calculated at Rs.

Any sum contributed by an Indian Co. Any sum Contributed by such Assessee.80 GGB/80GGC. • 100% deduction. • 100% allowed. To any Political party or Electoral trust. .Donation to Political Parties or Electoral Trust • 80GGB . • 80GGC – Any Non Corporate Assessee.

producing bio-fertilizers. • 100% Deduction for 5 consecutive yrs starting from yr of commencement of Business.pesticides or other biological agent. bio.80JJA.Collecting & Processing of biodegradable waste. .Profits from Business of Collecting & Processing of Bio-degradable Waste • Any Assessee • Business should be of : . producing bio-gas or making pellets or briquettes for fuel or organic manure.

.Deduction in respect of interest loan taken for higher education -80 E • Individual assessee • Interest on loan paid out of income chargeable to tax • loan taken for the purpose of pursuing higher education of the assessee. spouse. or student for whom assessee is the legal guardian • Higher education means any course of study including vocational studies after class XII or its equivalent. children of the assessee.

. • The deduction is allowed from the year in which the assessee first pays the interest and for the next 7 years. • The loan must have been taken from any financial institution or approved charitable institution.Deduction in respect of interest loan taken for higher education -80 E (contd).

including co-owner of the patent.00. newspapers etc.3.80QQB/80RRB.000 Conditions to be satisfied:  Lumpsum consideration for Grant of Interest in Copyright of any book being work of Literary. .Royalty from Books / Patents • Resident Individual who is registered as first and true inventor. Artistic or Scientific. • Maximum Amt – Rs.  No deduction for royalty income from text book for schools. guides.

Royalty from Books / Patents. Formula :  Royalty Income .15% of the Value of such Books .Expenses incurred for earning the Royalty.3Lac)  If Royalty Received outside India then it should be remitted to India within 6months of relavant PY.contd. .  Royalty on Books In excess of 15% of the Value of Books shall be ignored for this deduction.80QQB/80RRB. (Max .

80U.Deduction in case of person with disability Resident Individuals.50.000 in case of Severe Disability) Severe Disability Include : Total Blindness. autism. Mental retardation.000 (Rs.00. Permanent physical disability. cerebral palsy and multiple disabilities (Certificate to be produced) • .1. • Deduction of Rs.