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sections 80C to 80U. • However, the Condition (s). The maximum amount deductible under section 80C, 80CCC, TO A.Y. Qualifying. Under Section 80C, deduction would be available from Gross Total Income. . referred to insection 80U or suffering from disease or ailment specified in section . during the previous years relevant to assessment year or Chapter VI-A of Indian Income Tax Act deals with these deductions. For financial year (Assessment Year ), following are few important.

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Arrear of Salary and relief under section 89 1. Ganapat Patel October 1, at I am a housewife under 60yrs of age. Expenses towards payment of premium to keep in force a contract for an annuity plan of LIC or any other insurance agency. Will IT department take this loan repayment into consideration for the Whole year Returns.

I know SIP investment is tax free. Please inform to email: Where, in any previous year, an assessee—. I would like to know if I purchase another property at Ahmedabad, will be eligible to claim interest on property purchased in Ahmedabad as tax free?

Computation of ‘Profit in Lieu of Salary’ Sec 3. Erappa September 21, at 5: Deduction is allowed on interest of loan taken for pursuing higher education.

If yes How can I claim this benefit? Section 80C has been inserted from the assessment year onwards. Any sum deposited during the year in SukanyaSamriddhi Account by an individual would be eligible for deduction. With effect from assessment yearthe taxpayer shall be required to obtain a prescription from a specialist doctor not necessarily from a doctor working in a Government hospital for availing this deduction.


Deduction in respect of rents paid, provided the assessee is not in receipt of HRA and no house is owned by self, spouse, minor child or HUF in the place of work subject to filing of declaration in Form No. Your gross income should be less than 12 lacs to be eligible to invest in this scheme.


Any allowance granted to an employee to meet the expenditure for the purpose of commuting between the place of his residence and the place of his duty to the extent upto Rs. Manoj Shukla July 20, at 8: RS July 17, at 1: I got a pension of Citizen, I got all the information I wanted to calculate my incometax, from this website.

I have retired from service in Nov Thanx a lot, very very useful for all.

Deduction Under Section 80 C to 80 U ( How to Find Out)

Yes you should file return on the basis of information with you. Maximum deduction of Rs a, 00, is allowed against the home loan interest. Anonymous September 14, at I heard that as senior citizens I need not pay interest on income tax even if it has not been paid before 31 march Entire income from business of collecting and processing or treating of bio-degradable waste for generating power, or producing bio-fertilizers, bio-pesticides or other biological agents or for producing bio-gas, making pellets or briquettes for fuel or organic manure for 5 consecutive assessment years.

In the case of an assessee being a company, which is required to furnish a report referred to in section 92E Transfer Pricingthe due date is 30th November of the assessment year. The value of any premiums agreed to be returned or of any benefit by way of bonus or otherwise, over and above the sum actually assured, which is to be or may be received under the policy by any person, shall not be taken into account for the purpose of calculating the actual capital sum assured.

So in our view you should file return on the basis of form 16 and other details related to salary like payslips etc.

Advance tax payments and Self-assessment tax payments have to ro made in Challan No.


It was announced for F. Further pension is also salary income as per income tax act.

Interest payable on loan taken by him from any financial institution for the purpose of acquisition of a residential house property Maximum deduction: This is as per rule. I have purchased a new LIG flat in Ghaziabad. Donation of any sums paid by the assessee, being a company, in the previous year as donations to the Indian Olympic Association or to any other association or institution established in India, as the Central Government may, having regard to the prescribed guidelines, by notification in the Official Gazette, specify in this behalf for—.

Additional wages means the wages paid to 80d new regular workman in excess of 50 workmen employed during the previous year.

Prabhat Singh August 17, at 2: Deduction can be claimed by any deducttion for amount donated to political parties or electoral trust. If individual or spouse is more than 60 years eeduction age, the limit is Rs 30, revised from 20, Please tell me urgently how much incometax, if at all, I am required to pay. Deduction secyion payment of medical insurance premium for self, family or for parents. I am paying 1.

The limit is extended to Rs 1,25, revised from Rs 1,00, in case of severe disability.

Anonymous February 18, at 1: It is high time now to invest and get the benefit defined under Chapter VI-A: Anonymous June 2, at deductiob A residential House property minimum holding period 3 year.

Any sum deducted form salary payable to Govt. For this I have return to my PAO but no such reply till date. Net Qualifying Amount ; or Rs.