Page 9 - HDFC Bank TPP Flipbook

Income Tax Eligible Assessee Deductions Limit of Deduction
Section
80GGA Any assessee Donations for scientific, social or statistical Entire amount of
not carrying research or rural development programme or contribution shall be
on business/ for carrying out an eligible project or scheme or allowed as deduction
profession National Urban Poverty Eradication Fund, etc.
(However if paid in
cash only r 2,000
shall be allowed)
80GGC Any assessee Any amount of contribution made to a political Entire amount of
other than local party or an electoral trust shall be allowed as contribution shall be
authority and deduction. allowed as deduction
artificial judicial
person (However if paid in
cash no deduction
shall be allowed)
80TTA Individual/HUF Interest on deposits in savings account with Amount of interest or
(other than senior banks, post office, co-op. societies. r 10,000 whichever
citizen) is lower
80TTB Individual/HUF Interest on deposits in savings account with Amount of Interest or
(Senior citizen i.e. banks, co-operative society, post office. r 50,000 whichever
> 60 years ) is lower.
80U Resident Income of a person suffering from a disability as
Individual specified in the Act
- Normal Disability r 75,000
- Severe Disability r 1,25,000
(No deduction can be claimed u/s 80U if
deduction is already claimed u/s 80DD)
24(b) Individual • Housing Loan Interest for self-occupied Maximum r 2,00,000
property for acquisition or construction
Maximum r 30,000
• Housing Loan Interest for self-occupied
property for repairs/renewal/reconstruction Entire amount of
interest paid
In case Let out house property or deemed to be
let out house property
16 (ia) Salaried employee A standard deduction of r 50,000 given to Deduction
salaried employees subject to the amount of (Whichever is lower)
salary received.
a. r 50,000 (Standard
[Note that exemption u/s. 10(14) transport deduction)
allowance (except in case of differently abled)
and reimbursement of medical expenses shall be b. Salary amount
withdrawn.]

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