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1. #SECTION 80 ALBUM MEANING REGISTRATION#
2. #SECTION 80 ALBUM MEANING SOFTWARE#
3. #SECTION 80 ALBUM MEANING PLUS#

*Adjusted Gross Total Income is arrived at after adjusting the Gross Total Income for certain deductions, exempt income, long-term capital gains and income related to non-residents and foreign companies.Īn online e-filing software like that of ClearTax can be extremely easy as the limits are auto-calculated. Rent paid minus 10% of adjusted total income The deduction is available to all individuals Deduction available is the least of the following:Ī. The taxpayer must be living on rent and paying rentĭ. The taxpayer should not have self-occupied residential property in any other placeĬ. The taxpayer, spouse or minor child should not own residential accommodation at the place of employmentī. Section 80GG deduction is available for rent paid when HRA is not received. Section 80GG – House Rent Paid Deduction for House Rent Paid Where HRA is not ReceivedĪ. Section 80TTA deduction is not available on interest income from fixed deposits, recurring deposits, or interest income from corporate bonds. Do include the interest from savings bank account in other income.

If you are an individual or an HUF, you may claim a deduction of maximum Rs 10,000 against interest income from your savings account with a bank, co-operative society, or post office.

Section 80 TTA – Interest on Savings Account Deduction from Gross Total Income for Interest on Savings Bank Account You can still claim these deductions while e-filing, as long as you have the proofs with you. This may cause to additional TDS deductions. Sometimes, you may have deductions or investments eligible for 80C, but haven’t submitted the proofs to your employer. Get Savings on Income Taxes With a Tax Expert to Help You File (partial withdrawal allowed when she reached 18 years) A quick comparison for the options is tabulated below : Investment optionsĥyears (can be extended for other 3 years) They not only help you with saving taxes but also help you grow your money. Here are some investment options that are allowed as deduction u/s 80C. Benefit in this section is allowed only to salaried individuals and not self employed.

#SECTION 80 ALBUM MEANING PLUS#

#SECTION 80 ALBUM MEANING REGISTRATION#

Section 80CCC – Insurance Premium /Section 80CCD – Pension ContributionĨ0C allows deduction for investment made in PPF, EPF, LIC premium, Equity linked saving scheme, principal amount payment towards home loan, stamp duty and registration charges for purchase of property, Sukanya smriddhi yojana (SSY), National saving certificate (NSC), Senior citizen savings scheme (SCSS), ULIP, tax saving FD for 5 years, Infrastructure bonds etcĨ0CCC Deduction for life insurance annuity plan.Ĩ0CCC allows deduction for payment towards annuity pension plans Pension received from the annuity or amount received upon surrender of the annuity, including interest or bonus accrued on the annuity, is taxable in the year of receipt.Įmployee’s contribution under section 80CCD (1) Maximum deduction allowed is least of the following It is important to note that overall limit including the subsections for claiming deduction is Rs 1.5 lakh except an additional deduction of Rs 50,000 allowed u/s 80CCD(1b) Section 80C includes subsections, 80CCC, 80CCD (1), 80CCD (1b) and 80CCD (2). Companies, partnership firms, LLPs cannot avail the benefit of this deduction. The benefit of this deduction can be availed by Individuals and HUFs. It allows a maximum deduction of Rs 1.5 lakh every year from the taxpayers total income. Section 80C is one of the most popular and favourite sections amongst the taxpayers as it allows to reduce taxable income by making tax saving investments or incurring eligible expenses.