Page 7 - HDFC Bank TPP Flipbook

Income Tax Eligible Assessee Deductions Limit of Deduction
Section
80DDB Resident Cost incurred for medical treatment of such
Individual/HUF disease or ailments as may be specified. Diseases
covered are Neurological Diseases (where the
disability level has been certified as 40% or
more) Parkinson’s, Malignant Cancers, Acquired
Immune Deficiency Syndrome (AIDS), Chronic
Renal failure, Hemophilia, Thalassemia &
Hematological disorder
I. For Himself/ Dependent in case of Individual Maximum r 40,000
II. For any member of HUF Maximum r 40,000
If any person specified in clause (I) or (II) age is Maximum r 1,00,000
≥ 60 years
(out of the permissible deduction, reduce
reimbursed amount received from insurer or
employer)
80E Individual Out of income chargeable to tax, any amount of Any amount of
interest paid on educational loan taken from any Interest paid.
financial institution or any approved charitable
trust for individual’s higher education or higher
education of individual’s spouse or their children
or the student for whom the individual is legal
guardian. Any course of study pursued after
passing Senior Secondary Examination or its
equivalent from any school/institute/university is
recognised by the Government.
The deduction shall be allowed for 8 Assessment
years or until the interest is paid in full, whichever
is earlier.
80EE Individual Any amount of interest paid or payable on loan Maximum r 50,000
taken from any financial institution for acquiring Amount of deduction
residential property subject to the following
conditions: taken under this head
shall not be allowed
The loan has been sanctioned between 1/04/2016 in any other provision
to 31/3/2017 and in any other year.
The assessee does not own any residential
property on the date of sanction of the loan.
The amount of loan sanctioned does not exceed
r 35,00,000 and the value of property does not
exceed r 50,00,000

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