Page 6 - HDFC Bank | Take the cut out of your tax cut

Income Tax Eligible
Section Assessee Deductions Limit of Deduction

80DD Resident Expenditure incurred for medical treatment
Individual / HUF (including nursing), training and rehabilitation or
amount paid / deposited under any scheme framed
by LIC / UTI / approved insurer for payment of
annuity or lump sum amount for the benefit of
dependent being a person with disability.
• Normal Disability Rs. 75,000

• Severe Disability Rs. 1,25,000

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, Thalassaemia & Hematological disorder

I. For Himself/ Dependant in case of Individual Maximum Rs. 40,000
II. For any member of HUF Maximum Rs. 40,000

If any person specified in clause (I) or (II) age Maximum Rs. 1,00,000
is ≥ 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
interest paid on educational loan taken from any 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 recognized by the
government.

The deduction shall be allowed for 8 Assessment
years or until the interest is paid in full, whichever is
earlier.

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*Based on Retail Loan book size (excluding mortgages). Source: Annual Reports FY 20-21 and No.1 on market capitalisation based on BSE data as on 31st Dec, 2021