As per the new Finance Budget 2015-16 the some Income Tax Section limit has raised.Given below the all of Income Tax Deduction Under Chapter VI A including the 80C as per the Finance Budget 2015-16.
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DEDUCTIONS UNDER CHAPTER VI A FOR F.Y.2015-16
| |||
No.
|
Section
|
Particulars
|
Deduction Limit
|
1
|
80C
|
Deduction in respect of Investment in specifies assets
|
150000/-
|
2
|
80CCC
|
Deduction in respect of contribution to certain pension funds
|
150000/-
|
3
|
80CCD
|
Deduction in respect of contribution to pension scheme of Central Govt.
|
150000/-
|
4
|
80CCE
|
Limit on deduction under sections 80C,80CCC,80CCD(1)
|
150000/-
|
5
|
80D
|
Deduction in respect of medical insurance premium
|
Individual:25000/-
Senior Citizen:30000/-
|
6
|
80DD
|
Deduction in respect of maintenance including medical treatment of a
disabled person
|
Severe Disability:100000/-
Others:60000/-
|
7
|
80DDB
|
Deduction in respect of medical treatment
|
Individual:60000/-
Senior Citizen:80000/-
|
8
|
80E
|
Deduction in respect of interest on loan taken for higher education
|
Actual Interest
|
9
|
80EE
|
Additional deduction in respect of interest on loan taken for residential
house property
|
Rs. 100000/-
|
10
|
80G
|
Deduction in respect of Donations to Certain Funds, Charitable Institutions
|
50% or 100%
|
11
|
80GG
|
Deduction in respect of Rent paid
|
Lower of the following:
i)Actual Rent paid-10%
of the total income
ii)25% of total income
iii)2000 per month
|
12
|
80U
|
Deductions in the case of a person with disability
|
Severe Disability:125000/-
Others:75000/-
|
13
|
80TTA
|
Deduction in respect of interest on deposits in savings account
|
Rs.10000
|
14
|
87A
|
Tax Rebate Rs. 2000/- who's taxable income below Rs. 5 Lakh
|
Rs.2000/-
|