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Deductions under Section 80 of the Income Tax Act

Taxes form one of the most important and major sources of revenue for the Government of India. They are levied as direct and indirect taxes on the different categories of taxpayers. The rate of taxes levied is based on various factors such as income, assets held, etc.

The Government utilises these funds to manage infrastructure and development initiatives. However, it can increase the financial liabilities for the taxpayers in the long term. Therefore, to ensure financial stability amongst the taxpayers and encourage them to invest for the future and manage their liabilities, the Government introduced several tax provisions to reduce taxable income. Section 80 is one of the most important among them.

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Topics in this article

Deductions under Section 80 of the Income Tax Act
What Is Section 80 of the Income Tax Act?
Deductions under 80
Summary Of Section 80 Deductions
Frequently Asked Questions (FAQs) About Deductions Under Section 80

What Is Section 80 of the Income Tax Act?

Section 80 of the Income Tax Act provides various tax^# deduction benefits for the different categories of taxpayers based on the expenses incurred or the investments made. As a result, it helps reduce the taxable income and the corresponding income tax liability.

The different tax provisions are specific to the expenses made by the taxpayers. The tax provisions define the eligible taxpayers and the maximum allowable deduction limit based on the stated terms and conditions.

Deductions Under Section 80

The Section 80 deductions apply to different expenditures such as medical expenses, interest payments on housing loans, etc., and investments made in financial products such as life insurance plans, pension schemes, etc. Therefore, eligible taxpayers must understand the applicable tax deduction benefits and avail of the same while filing their Income Tax Returns (ITR).

Please Note: Most tax deduction benefits apply to taxpayers who choose the old tax regime. While the new tax regime does not provide tax deduction benefits, it offers a lower rate for the different income tax slabs.

Here is a detailed guide to the different tax deduction benefits under the different provisions and the applicable Section 80 deductions limit.

Section 80C
Section 80C is an important tax provision under Section 80 of the Income Tax Act 1961. Additionally, it is one of the most commonly used tax provisions that help individuals and HUFs reduce their taxable income based on some of their expenses and savings or investments made in certain financial instruments during the financial year.

The maximum limit for the deduction is ₹1.5 Lakh, and it is for the aggregate of expenses and investments and is not separate for the individual contribution or spending made to specific financial products.

The applicable tax deductions under Section 80C are based on two types of financial transactions:
1. Expenses - Expenses are based on spending activities. The following expenses will qualify for the tax deduction benefit under Section 80C.
  
  Home Loan Principal Repayment
  
  Stamp Duty and Registration Charges
  
  Tuition Fees for Children
2. Savings and Investments - Savings and investments made in certain financial products will qualify for a tax deduction under Section 80C Income Tax Act 1961. It will help the taxpayers accumulate funds or appreciate their wealth to secure their future while saving on tax.
  
  Public Provident Fund (PPF)
  
  Life Insurance
  
  Employees Provident Fund (EPF)
  
  Equity Linked Savings Scheme (ELSS)
  
  Bank Fixed Deposit
  
  Unit Linked Insurance Plan (ULIP plan)
  
  Sukanya Samriddhi Yojana (SSY)
  
  Senior Citizens Savings Scheme (SCSS)
  
  National Savings Certificate (NSC)
  
  Post Office Time Deposit

Subsections of Section 80C

Section 80C of the Income Tax Act is further divided into subsections.

Section 80CCC - Premium payments towards annuity plans provided by life insurance companies.
Section 80CCD (1) - Employee's contribution to the National Pension Scheme and investments in Atal Pension Yojana
Section 80CCD(1b) - Further tax deduction benefit of ₹50,000 applicable for the amount contributed to the NPS in addition to the 80CCD (1) deduction
Section 80CCD (2) - The employer's contribution to the National Pension Scheme for salaried employees up to 10% of the basic salary plus the dearness allowance. The deduction limit is 14% if the employer is Central Government.
Section 80CCF - The amount invested in the long-term infrastructure bonds approved by the Government up to ₹20,000
Section 80CCG - The investments made in equity savings schemes approved by the Government of up to ₹25,000

Deduction limit under Section 80C - It is important to note that the tax deduction limit under Section 80C, Section 80CCC and Section 80 CCD (1) is ₹1.5 Lakh. However, the tax deduction benefit under Section 80 CCD(1b) of ₹50,000 is over and above the deduction under Section 80C. Therefore, the total tax benefit under Section 80C and the contribution to NPS under Section 80CCD(1b) is ₹2 Lakh.

Click here for further information on Section 80C.

Section 80D

Section 80D is a tax provision under Section 80 that provides tax deduction benefits for individuals and HUFs on the premium paid for the health insurance plan for self, spouse, dependent children, and parents.

In addition, the benefits apply to the top-up health plans, health riders in life insurance plans and expenses incurred towards preventive health check-ups.

Furthermore, it applies to medical expenditures on senior citizens not covered in a health insurance plan.

Deduction limit under Section 80D - According to Section 80D, the maximum limit for deduction is ₹25,000 for persons less than 60 years of age and ₹50,000 for senior citizens.

In the case of separate policies for self+family and parents, the taxpayer can claim both benefits as per the above-mentioned limits.

Section 80D also provides a tax deduction benefit of up to ₹5000 for preventive health check-ups for self, spouse, dependent children, and parents and can be paid in cash. However, it is within the stated limit of ₹25,000 and ₹50,000.

For further information, refer to Section 80D.

Section 80DD

Section 80DD deduction under Section 80 is a tax benefit to a resident individual or HUF for the expenditure incurred towards medical treatment for the training and rehabilitation of a dependent relative who is handicapped. It also applies to the deposit or payment made to a specified scheme for the handicapped dependent relative.

Deduction limit for Section 80DD - The maximum available deduction is ₹75,000 if the disability is between 40% and 80% and ₹1,25,000 if the disability is more than 80%. The prescribed medical practitioner should provide a certificate of disability to claim the applicable deduction.

Section 80DDB

Section 80DDB provides a tax deduction benefit to individuals and HUFs for the medical expenses incurred for themselves or their dependents, such as parents, siblings, spouses, and children, on certain specified diseases. A medical certificate from the concerned specialist for the treatment is essential to claim the deduction under this section.

Deduction limit under Section 80DDB - The maximum allowable deduction is ₹40,000 for the individuals or their dependents if they are less than 60 years of age and ₹1 Lakh for senior citizens and super senior citizens.

Reimbursement provided by the employer, or the payments made by an insurer if the dependent is insured should be subtracted from the applicable deduction.

Section 80E

Section 80E is a tax provision under Section 80 of the Income Tax Act that provides a tax deduction benefit to individual taxpayers for the interest paid towards an education loan.

The taxpayer should obtain the education loan for the deduction benefit from an authorised bank, financial institution, or charitable organisation for higher education in India or outside India. The loan can be taken for the higher education of self, spouse or dependent children or a student under the legal guardianship of the taxpayer.

The deduction benefit is for the interest paid for the education loan during the financial year. There is no defined deduction limit applicable for Section 80E. In addition, it is important to note that the tax benefit does not apply to the principal repayment.

Deduction limit under Section 80E - The deduction benefit is for the interest paid for the education loan during the financial year. There is no defined deduction limit applicable for Section 80E. In addition, it is important to note that the tax benefit does not apply to the principal repayment.

Section 80EE

Section 80EE deduction under Section 80 provides a tax benefit to individual taxpayers on the interest paid for a residential house property loan.

Some conditions explaining the applicability of the tax deduction benefit under Section 80EE:

The taxpayer should not have owned any other house property when the house loan was sanctioned.
The loan should be from an authorised financial institution or a housing financing company.
The value of the house property should not exceed ₹50 Lakh.
The home loan availed should not exceed ₹35 Lakh.
The loan must have been sanctioned by the financial institution between 1st April 2016 and 31st March 2017.

Deduction limit for Section 80EE - The maximum deduction allowed under Section 80EE for a financial year is ₹50,000. It is over and above the tax deduction limit of ₹2 Lakh under Section 24 of the Income Tax Act, 1961. The deduction benefit is applicable until the house loan is completely repaid.

Section 80EEA

The Government introduced a new Section 80EEA under Section 80 of the Income Tax Act to further extend the tax deduction benefit on interest paid towards a housing loan to individual taxpayers.

It is applicable based on the following conditions:

The loan must have been sanctioned between 1st April 2019 and 31st March 2022.
It applies to first-time home buyers.
The value of the house property should not exceed ₹45 Lakh.
The taxpayer should not be entitled to tax deduction benefits under Section 80EE.

Deduction limit for Section 80EEA - Under Section 80EEA, individual taxpayers can avail of up to ₹1,50,000. It is over and above the tax deduction of up to ₹2 Lakh under Section 24.

Section 80EEB

Section 80EEB under Section 80 provides a tax deduction benefit to individual taxpayers for the interest paid towards a vehicle loan availed for purchasing electric vehicles.

It is applicable based on the following conditions:

The taxpayer must have availed of the loan for purchasing an electric vehicle from a financial institution or a non-banking financial company.
The loan must have been sanctioned between 1st April 2019 and 31st March 2023.

Deduction limit for Section 80EEB - The taxpayers can avail of tax deduction benefits up to ₹1,50,000. The electric vehicle can be for business use or personal use.

Section 80G

Section 80G under Section 80 provides income tax deduction benefits for the contributions made to certain charitable institutions and relief funds. The benefit is applicable if the contribution is made via cash, cheque, or demand draft. Therefore, the contribution made in kind, such as food, clothes, etc., does not qualify for the tax deduction benefits.

The contributions qualify for a tax deduction of up to 50% or 100% with or without a restriction under Section 80G. It is important to know the list of applicable contributions that qualify for the deduction before claiming the tax deduction benefit.

The tax deduction benefits under Section 80G apply to any taxpayer, such as individuals, firms, companies, etc. However, it is applicable for the taxpayer choosing the new tax regime.

Deduction limit for Section 80G - Donations to charitable institutions and relief funds made in cash of up to ₹2000 will qualify for the tax deduction benefit. The donations made above ₹2000 should be made in a mode of payment other than cash.

Section 80GG

Section 80GG under Section 80 provides a tax deduction benefit to individuals and HUFs who pay rent for their accommodation but do not receive a house rent allowance. It applies to salaried and self-employed individuals.

Deduction Limit for Section 80GG - The deduction limit for Section 80GG is the least of the following:

₹5000 per month
25% of adjusted total income
10% of the adjusted total income reduced from the actual rent paid

Section 80GGA

Section 80GGA deduction under Section 80 is for the contribution towards scientific research or rural development. The Section 80GGA tax deduction benefit applies to all taxpayers except those who earn an income from a profession or business. It is important to know the list of applicable contributions that qualify for the deduction before claiming the tax deduction benefit.

Deduction limit for Section 80GGA - 100% of the amount contributed is eligible for the deductions under Section 80GGA. However, the donations must be made in any form other than cash. For cash donations, the maximum allowable limit is ₹2000.

Section 80GGB

Section 80GGB provides a tax deduction benefit to a Company or enterprise that donates funds to a political party, or an electoral trust registered in India. The Company must make the contributions through cheque, electronic transfer, or demand draft.

Deduction Limit for Section 80GGB - There is no applicable deduction limit that applies to the contributions made to such political parties. However, the companies can donate up to 7.5% of their net profit, considering the average of the last 3 years for the tax deduction benefit under Section 80GGB.

Section 80GGC

According to Section 80GGC of Section 80, any person except an artificial juridical person or local authority shall contribute to a political party or an electoral trust and claim a tax deduction. The contribution for this tax deduction benefit should be made in any other mode of payment other than cash.

Deduction Limit for Section 80GGC - The entire contribution made to the political party, or the electoral trust qualifies for the tax deduction benefit under Section 80GGC.

Section 80 IA

Section 80 IA provides tax deduction benefits to taxpayers who generate profits through industrial undertaking engaged in infrastructure development. It can be related to telecommunication services, power generation, industrial parks, etc. The deduction limit is 100% of the profits made for 10 consecutive years.

Here is a detail about some of the related subsections:

Section	Eligibility	Limits
Section 80 IAB	For taxpayers engaged in developing Special Economic Zones	100% of the profits made for 10 consecutive years
Section 80 IAC	Eligible startup companies and LLP engaged in certain eligible business activities	100% of the profits made for 3 consecutive years
Section 80 IB	For taxpayers making profits from the business of Commercial production of mineral oil Processing, preserving, and packaging of meat, poultry, dairy products, fruits, vegetables, etc., Operating a hospital Handling, storing, and transporting food grains	25%, 30% or 100% subject to the terms and conditions
Section 80IBA	Gross total income (including gains and profits) from developing and/or building housing projects	100% of the profits earned from specified housing projects
Section 80IC	Tax provisions for undertakings established in specified states such as Sikkim, Assam, Meghalaya, Manipur, Mizoram, Tripura, Nagaland, Himachal Pradesh, Arunachal Pradesh, and Uttaranchal	100% of the profits for Sikkim for 10 years 100% of the profits for Himachal Pradesh and Uttaranchal for first 5 years and 25% (30% for companies) for next 5 years 100% of the profit for Northeast States for 10 years
Section 80ID	For taxpayers making profits or gains from convention centres or hotels in specified areas	100% of the profit for 5 consecutive years
Section 80IE	Special tax provisions concerning certain undertakings in the Northeast States	100% of the profit for 10 consecutive years

Section 80J
Tax provisions under Section 80J under Section 80 of Income Tax Act are further categorised into Section 80JJ and Section 80JJA.
- Section 80JJA - Provides a tax deduction on the profits derived from a business engaged in collecting, processing, or treating bio-degradable wastes for producing biogas, generating power, etc.,
  
  Deduction Limit for Section 80JJA - The maximum allowable deduction is ₹5 Lakh, or the entire profit made, whichever is less for 5 consecutive years.
- Section 80JJAA - The tax deduction benefit applies to taxpayers who profit or gain from business and recruit new or additional employees to an organisation. The benefit is aimed at encouraging employment generation.
  
  Deduction Limit for Section 80JJAA - The maximum allowable limit is 30% of the additional employee cost incurred. It applies to 3 assessment years.

Section 80-LA

Section 80-LA deduction under Section 80 applies income from offshore banking units in a Special Economic Zone or a unit of the International Financial Service Centre.

Deduction Limit for Section 80-LA - 100% of the income earned for the first 5 years and 50% of the income for the next 5 years.

Section 80P
Section 80P under Section 80 provides a tax deduction benefit on a specified income if it is included in the total gross income of a cooperative society engaged in certain specific activities.

Deduction Limit for Section 80P
1. 100% of the profits earned and gains attributed to activities such as providing banking or credit facilities, marketing agricultural products, cottage industrial activities, fishing, etc.
2. 100% of profits and gains from a business supplying fruits, vegetables, milk, and oilseeds.
3. A deduction limit of up to ₹1 Lakh for consumer cooperative society and ₹50,000 for others engaged in any other activity.
4. 100% of their income earned from providing warehouses or godowns for rent and interest or dividends from investments made with other cooperative societies.
5. 100% of income earned from house property of a cooperative society or interest on securities whose total income is less than ₹25,000.

Section 80PA

Section 80PA provides a tax deduction for a Producer Company having a turnover of less than ₹100 crore making profits and gains from eligible businesses such as processing and marketing of agricultural products.

Deduction Limit for Section 80PA - 100% of the profits made will qualify for the deduction.

Section 80QQB

Section 80QQB deduction under Section 80 provides a tax benefit to authors who are residents in India or residents but not ordinarily residents in India earning a royalty based on their publications.

The deduction is applicable to the royalty income earned by an author for being an author or co-author of a book under the category of literary, artistic, or scientific work. It is also applicable to copyright fees.

Deduction Limit Under Section 80QQB - The maximum allowable deduction is ₹3 Lakh. Therefore, if the income received is less than ₹3 Lakh, only that amount will qualify for the deduction.

Section 80RRB

Section RRB under Section 80 provides a tax deduction benefit for the resident individuals receiving payments as royalty.

The patent against which the individual has received the royalty should be an original patent registered under the Patent Act 1970. In addition, it should have been registered on or after 1st April 2003.

Deduction Limit Under Section 80RRB - The individuals can claim up to a maximum of ₹3 Lakh for the royalties earned on the patents. Therefore, if the income earned is less than ₹3 Lakh, only that amount will be applicable for the deduction.

Section 80TTA
Section 80TTA is an important deduction under Section 80 that helps taxpayers who receive interest on their savings bank account.

Individuals and HUFs can claim the tax deduction benefit on the interest income earned from the savings account with a bank, cooperative society, and post office. And it does not apply to interest earned from fixed, recurring, and other time deposits.

Deduction Limit Under Section 80TTA -
- The maximum allowable tax deduction limit is ₹10,000. Therefore, the entire amount qualifies for deduction if the interest earned is less than ₹10,000.
- On the other hand, if the interest earned is more than ₹10,000, the deduction will be restricted to ₹10,000.
- Furthermore, if the interest income is from multiple accounts, the sum of the interest earned should be considered by the taxpayer for the deduction.

Section 80 TTB
Section 80TTB under Section 80 provides a tax deduction benefit to a resident senior citizen above 60 years of age based on a specified amount from the total gross income for the financial year.

The specified income can be interests earned from any of the following income considered in aggregate:
1. Bank deposits - saving or fixed
2. Deposits in a cooperative society
3. Deposits in a post office
Deduction Limit for Section 80 TTB -
- The deduction limit is ₹50,000 or a specified income as described above, whichever is lower. The amount can be deducted by the senior citizens on their total gross income while calculating Income Tax.
- Furthermore, it is important to note that the deduction under Section 80TTA will not apply to senior citizens.

Section 80U

Section 80U under Section 80 offers a tax deduction benefit to the taxpayer who is a resident individual certified by a medical authority as a person with a disability. The disability can be related to blindness, hearing impairment, low vision, leprosy-cured, mental retardation, locomotor disability, and mental illness. It differs from Section 80DD, where the tax deduction benefit is provided to the taxpayer if any dependent family members have a disability.

Deduction limit for Section 80U - The maximum allowable deduction is up to ₹75,000 for people having a 40% to 80% disability and ₹1,25,000 for people having more than 80% disability. A medical certificate from the relevant medical authorities is required to claim this benefit.

Summary Of Section 80 Deductions

Here is a detailed table explaining the tax provisions and the Section 80 deductions limit.

Tax Provisions Under Section 80	Tax Deduction Benefits	Eligibility Criteria	Tax Deduction Limit (₹)
Section 80C	For certain savings and investments such as life insurance, EPF, PPF, ELSS, etc., and expenses such as tuition fees for children, home loan principal repayment, etc.,	Individuals and HUFs	₹1,50,000
Section 80CCC	For investing in annuity plans	Individuals
Section 80CCD (1)	Investments in National Pension Scheme and Atal Pension Yojana	Individuals
Section 80CCD(1b)	Investments in National Pension Scheme and Atal Pension Yojana	Individuals	₹50,000
Section 80CCD (2)	Contribution of employer towards National Pension Scheme	Individuals	Employer’s contribution of up to 10% of the salary and dearness allowance and 14% in case of Government employees.
Section 80CCF	Investment in infrastructure bonds	Individuals and one member in HUF	₹20,000
Section 80CCG	Investments in equity savings schemes	Individuals	₹25,000
Section 80D	For the investment in health insurance premiums for self, spouse, dependent children and parents and other medical expenses	Individuals and HUFs	₹25,000 for persons less than 60 years of age and ₹50,000 for senior citizens
Section 80DD	Medical expenditure for a dependent with a disability	Individuals and HUF	₹75,000 for 40% disability and ₹1,25,000 for 80% disability
Section 80DDB	Medical expenses for specified diseases	Individuals and HUFs	₹40,000 for persons less than 60 years of age and ₹1,00,000 for senior citizens
Section 80E	Interest paid on education loan	Individuals	100% of the interest paid for up to 8 years
Section 80EE	Interest paid on home loan	Individuals	₹50,000 subject to certain terms and conditions
Section 80EEA	Interest paid on home loan	Individuals	₹1,50,000 subject to certain terms and conditions
Section 80EEB	Interest paid on vehicle loan	Individuals	₹1,50,000 subject to certain terms and conditions
Section 80G	Donation to charitable institutions	All categories of taxpayers	Up to 50% or 100% with or without a restriction. Cash donations up to ₹2000
Section 80GG	House rent paid but not received HRA	Individuals and HUFs	Least of the following: 1. ₹5000 per month 2. 25% of adjusted total income 3. 10% of the adjusted total income reduced from the actual rent paid
Section 80GGA	Contribution for scientific research or rural development	All taxpayers except those who earn an income from business or profession	100% of the contribution. Cash donations up to ₹2000.
Section 80GGB	Contribution to political parties	Companies	No upper limit. However, companies can donate up to 7.5% of their net profit, considering the average of the last 3 years.
Section 80GGC	Contribution to political parties	Any taxpayer except for companies, artificial juridical persons, or local authority.	100% of the contribution.
Section 80IA	Profits from industrial undertakings engaged in infrastructural developments	Industrial undertakings	100% of the gains for 10 consecutive years
Section 80IAB	Profits for SEZ developers	Establishments engaged in SEZ development	100% of the gains for 10 consecutive years
Section 80IAC	Start-ups engaged in eligible businesses	Companies and LLP	100% of the profit for 3 consecutive years
Section 80IB	Profits from industrial undertakings engaged in activities other than infrastructural development	Industrial undertakings	25%, 30% or 100% subject to certain terms and conditions.
Section 80IBA	Gains from housing projects	Taxpayers engaged in specified housing projects	100% of the gains
Section 80IC	Industrial undertaking is specified states	Industrial undertakings	100% of profits for 10 years for Sikkim, 100% for 5 years and 25% (30% in case of profits earned by companies) for next 5 years for Himachal Pradesh and Uttaranchal and 100% for 10 years for Northeast states.
Section 80ID	Profits from hotels or convention	Hotel or convention centres	100% of the profit for 5 consecutive years
Section 80IE	Profits from specified businesses	Specified businesses	100% of the profit for 10 consecutive years.
Section 80JJA	For businesses engaged in utilising biodegradable waste for producing biogas, generating power, etc.,	Specified businesses	₹5 Lakh or the entire profits made whichever is less for 5 consecutive years
Section 80JJAA	For employing new employees	Employers subject to tax audit	30% of the additional cost incurred for 3 years
Section 80LA	Income from offshore banking units in a Special Economic Zone or a unit of the International Financial Service Centre.	Offshore banking units in a Special Economic Zone or a unit of the International Financial Service Centre.	100% of the income earned for the first 5 years and 50% of the income for the next 5 years.
Section 80P	Specified income of cooperative societies	Cooperative societies	100% of the profit for specific activities and up to ₹1 Lakh for consumer cooperative societies and ₹50,000 for others engaged in any other activity.
Section 80PA	Income from a Producer Company having a turnover less than ₹100 crore	Producer Company	100% of the profits or gains
Section 80QQB	Royalty income for authors	Residents in India or residents but not ordinarily residents in India	Income earned or ₹3 Lakh whichever is less.
Section 80RRB	Royalty received for patents	Resident individuals	Income earned or ₹3 Lakh whichever is less.
Section 80TTA	Interest earned on savings bank accounts	Individuals and HUFs	₹10,000
Section 80TTB	Income from bank savings or fixed deposits, deposits from post office and cooperative societies	Resident Individuals - Senior Citizens	₹50,000
Section 80U	For individuals with a disability	Resident individuals	₹75,000 for 40% disability and ₹1,25,000 for 80% disability

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Frequently Asked Questions

Can a company or a partnership firm avail of the tax deduction benefits under Section 80C?

No, the tax deduction benefits under Section 80C apply only to individuals and HUFs (Hindu Undivided Family) and not to any other category of taxpayers, such as companies or partnership firms.
Can I claim a tax deduction under Section 80E if I have availed of an education loan from my employer?

No, the tax deduction benefit under Section 80E is applicable if the education loan is availed from an authorised Indian bank or financial institution.
If I have purchased a life insurance plan from a private insurance company, can I claim a tax deduction benefit under Section 80C?

Yes, you can avail of the tax deduction benefit under Section 80C for the life insurance plan purchased from a private insurance company.
Can a firm or a company claim the deduction for the donations made under Section 80G?

The tax deduction benefits for the donations made under Section 80G apply to any taxpayer, such as individuals, firms, companies, etc.
Does the interest earned from a fixed deposit and recurring deposit qualify for a tax deduction under Section 80C?

Interests earned from fixed and recurring deposits are not applicable for the tax benefits under Section 80C. However, the investments made in 5-year fixed deposits qualify for the tax deduction benefits under Section 80C.
Can I claim deductions under Section 80D separately for the premium paid for my parents and family, including my spouse and children?

Yes, you can separately claim deductions under Section 80D for your parents and your family. And your family can include your spouse and dependent children.
How does the tax deduction benefit for NPS investment in Section 80C differ from Section 80CCD(1B)?
Section 80CCD (1), a subsection of Section 80C, provides a tax deduction benefit for the employee's contribution to the National Pension Scheme. The maximum allowed deduction is the least of the following:
1. 10% of the salary if the taxpayer is an employee
2. 20% of the total income if the taxpayer is self-employed
3. Unexhausted limit of Section 80C deduction limit, ₹1.5L.
Section 80CCD(1b) provides a further tax deduction benefit of ₹50,000 for the amount contributed to the NPS scheme in addition to the 80CCD (1) deduction.
Can I claim HRA under Section 80?

If you do not receive HRA in your salary, you can claim a tax deduction on the rent you have paid for the financial year under Section 80GG, a subsection of Section 80.
Is Section 80D tax deduction applicable for the medical insurance premium paid for my mother-in-law?

No, the Section 80D tax deduction is not applicable for the medical insurance premium paid to your mother-in-law.
Is the Section 80D tax deduction applicable for a non-dependent parent?

Yes, the Section 80D tax deduction benefit applies to parents irrespective of whether they are dependent or non-dependent.
Is the tax deduction under Section 80E applicable to higher education pursued abroad?

Yes, the Section 80E tax deduction on an education loan applies to higher education pursued in India and abroad.
Do premature charges paid on early repayment of the education loan qualify for the tax deduction benefit?

Yes, premature charges paid on early repayment qualifies for the tax deduction benefit as it is considered interest on the education loan.
Can I claim a tax deduction under Section 80EE and Section 24 in the same financial year?

Yes, you can claim tax deductions under Section 80EE and Section 24 in the same financial year. The tax deduction benefit under Section 80EE is over and above the deduction benefit under Section 24.
What is the difference between Section 80U and Section 80DDB?

Section 80U offers a tax deduction benefit to the taxpayer certified by a medical authority as a person with a disability. On the other hand, Section 80DD provides a tax deduction benefit to the taxpayer if any dependent family members have a disability.
When are the stamp duty charges applicable for tax deductions under Section 80C?

The deduction on the stamp duty charges is applicable for tax deduction under Section 80C in the year the payment is made towards these expenses.
How to claim the tax deduction benefits under Section 80 while filing ITR - 1?

For claiming deduction under Section 80, you need to fill out the required details in Part C of ITR-1.
How is the new tax regime beneficial for taxpayers forgoing certain tax deductions and exemptions?

The new tax regime benefits taxpayers forgoing certain tax deductions and exemptions by providing reduced rates for the Income Tax payable based on the income tax slab.
Does a dental treatment qualify for a tax deduction under Section 80D?

No, dental treatments do not qualify for tax deduction under Section 80D. However, if dental treatments are covered under your medical insurance plan, then the premium paid towards the same can qualify for Section 80D deduction.
Can we claim tax deductions for donations made without a receipt?

No, to claim a deduction under 80G, you need a receipt for the donation. The receipt should contain the details such as the Name and Registration Number of the Trust, Address, Name of the donor, amount of donation, and the mode of payment.

Disclaimers
- Insurance cover is available under the product.
- The products are underwritten by Tata AIA Life Insurance Company Ltd.
- ^#Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfillment of conditions stipulated therein. Income Tax laws are subject to change from time to time. Tata AIA Life Insurance Company Ltd. does not assume responsibility on tax implication mentioned anywhere in this document. Please consult your own tax consultant to know the tax benefits available to you.
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- For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.
- This publication is for general circulation only. This document is for information and illustrative purposes only and does not purport to any financial or investment services and do not offer or form part of any offer or recommendation. This document is not and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action.
- Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document issued by the insurance company and this document is not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action.