Page 8 - HDFC Bank TPP Flipbook

Income Tax Eligible Assessee Deductions Limit of Deduction
Section
80EEA Individual Any amount of interest paid or payable on loan Maximum
taken from any financial institution for acquiring r 1,50,000
residential property subject to the following The amount of
conditions: deduction taken
under this head shall
(i) The loan has been sanctioned between not be allowed in any
01-04-2019 to 31-03-2021 other provision and
(ii) The assessee does not own any residential in any other year.
property on the date of sanction of the loan.
(iii) The amount of stamp duty of residential
house property does not exceed
r 45,00,000
(iv) An individual not eligible to claim deduction
under Section 80EE.
80EEB Individual Any amount of Interest paid or payable on Loan Maximum
taken by individuals from any financial institution r 1,50,000
for purchase of electric vehicles between 1 April The amount of
2019 and 31 March 2023. deduction taken
under this head shall
not be allowed in any
other provision and
in any other year.
80G Any Assessee Donations made to funds like Prime Minister’s 50% or 100%
Relief Fund, National Children Foundation, any of net qualifying
University or educational institution of ‘national amount depending
eminence’, etc. i.e. for charitable purposes on institutions or
specified in section 80G funds and subject to
some conditions and
approval.
However, if paid to
any fund or institute
in cash only r 10,000
shall be allowed.
80GG Individuals not Rent paid by individual in excess of 10% of total r 2,000 per month or
receiving House income for furnished/unfurnished residential 25% of total income,
Rent Allowance accommodation. whichever is less

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