Deductions – myITreturn Help Center

Tax deductions under Chapter VIA are designed to help the assessee reduce his total income in order to lower his tax burden.

There are certain conditions for availing deductions under Chapter VIA which are as follows:

Section	Particulars	Limit
80C	Investment in LIC Investment in National Savings Certificate Investment in Provident Fund Tuition Fee ULIP ELSS Mutual Funds Bank Fixed Deposit (More than 5 Year Housing Loan Principal Repayment Investment in Employee Provident Fund Stamp duty Sukanya Samridhi Scheme	Maximum amount of deduction in aggregate u/s 80C,80CCC & 80CCD(1) is Rs.1,50,000 or amount eligible, whichever is lower.
80CCC	Pension Fund	Maximum amount of deduction in aggregate u/s 80C,80CCC & 80CCD(1) is Rs.1,50,000 or amount eligible, whichever is lower.
80CCD(1)	Employee's Contribution to pension Scheme	Maximum amount of deduction in aggregate u/s 80C,80CCC & 80CCD(1) is Rs.1,50,000 or amount eligible, whichever is lower.
80CCD(1B)	Additional Contribution towards NPS	Rs 50000/-
80CCD(2)	Employer's Contribution to pension Scheme	If the employer is Central Government - Amount Contributed or 14% of salary, whichever is less. In the case of other employers - Amount Contributed or 10% of salary, whichever is less.
80D	Mediclaim	Rs.25,000 (for self and family) for all taxpayers. Rs.50,000 in case of Senior Citizen. Rs.25, 000 for parents & Rs. 50,000(For senior citizen parents). Rs. 5,000 is allowed for the preventive health check
80E	Interest on Loan on Higher Education	Any amount of interest paid during the previous year.
80G	Donation	50% /100% of Donation (as eligible).
80GG	Rent	Lower of: Rent paid- 10% of Adjusted Total Income 25% of the Adjusted Total Income Rs.5,000/- per month
80TTA	Interest on Deposit in Saving Bank Account	Up to Rs. 10,000/- for individuals & HUF
80TTB	Interest on Deposits in Bank Account	Up to Rs. 50,000 shall be allowed to resident individuals who are senior citizens.
80DD	Maintenance of Dependent with Disability	Rs.75,000 in case of disability. Rs.1,25,000 in case of severe disability.
80DDB	Medical Treatment of Dependent – Senior Citizen or Very Senior Citizen	Rs.40,000, in case of Senior Citizen and Very Senior Citizen Rs 100000/-.
80GGA	Deduction in respect of certain donations for scientific research or rural development.	Any amount Paid ( Rs 10000 if paid in cash).
80GGC	Deduction in respect of contributions given by any person to political parties.	100 % (only if paid in a mode other than cash).
80QQB	Deduction in respect of royalty income, etc., of authors of certain books other than textbooks.	Royalty received or Rs 3 lacs whichever is less.
80RRB	Deduction in respect of royalty on patents.	Royalty received or Rs 3 lacs whichever is less.
80U	Person with Disability	Rs 75,000/- in case of a person with a disability and Rs.1,25,000/- in case of a person with severe disability.

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