Section 80 Deduction Table
Section: 80C
Allowed Limit (maximum) FY 2021-22: Rs. 1,50,000
Deduction on 80C ribbet
Investment in PPF
– Employee’s share of PF contribution
– NSCs
– Life Insurance Premium payment
– Children’s Tuition Fee
– Principal Repayment of home loan
– Investment in Sukanya Samridhi Account
– ULIPS
– ELSS
– Sum paid to purchase deferred annuity
– Five year deposit scheme
– Senior Citizens savings scheme
– Subscription to notified securities/notified deposits scheme
– Contribution to notified Pension Fund set up by Mutual Fund or UTI.
– Subscription to Home Loan Account scheme of the National Housing Bank
– Subscription to deposit scheme of a public sector or company engaged in providing housing finance
– Contribution to notified annuity Plan of LIC
– Subscription to equity shares/ debentures of an approved eligible issue
– Subscription to notified bonds of NABARD
Section: 80CCC
Allowed Limit (maximum) FY 2021-22
Deduction on 80C ribbet
For amount deposited in annuity plan of LIC or any other insurer for a pension from a fund referred to in Section 10(23AAB)
Section: 80CCD(1)
Allowed Limit (maximum) FY 2021-22 -
Deduction on 80CCD(1) ribbet
Employee’s contribution to NPS account (maximum up to Rs 1,50,000)
Section: 80CCD(2)
Allowed Limit (maximum) FY 2021-22 - Maximum up to 10% of salary
Deduction on 80CCD(2) ribbet
Employer’s contribution to NPS account
Section: 80CCD(1B)
Allowed Limit (maximum) FY 2021-22 - Rs. 50,000
Deduction on 80CCD(1B) ribbet
Additional contribution to NPS
Section: 80TTA(1)
Allowed Limit (maximum) FY 2021-22 - Maximum up to 10,000
Deduction on 80TTA(1) ribbet
Interest Income from Savings account
Section: 80TTB
Allowed Limit (maximum) FY 2021-22 - Maximum up to 50,000
Deduction on 80TTB ribbet
Exemption of interest from banks, post office, etc. Applicable only to senior citizens
Section: 80GG
Allowed Limit (maximum) FY 2021-22 -
Least
of :
– Rent paid minus 10% of total income
– Rs. 5000/- per month
– 25% of total income
Deduction on 80GG ribbet
For rent paid when HRA is not received from employer
Section: 80E
Allowed Limit (maximum) FY 2021-22 -
Interest paid for a period of 8 years
Deduction on 80E ribbet
Interest on education loan
Section: 80EE
Allowed Limit (maximum) FY 2021-22 -
Rs 50,000
Deduction on 80EE ribbet
Interest on home loan for first time home owners
Section: 80D
Allowed Limit (maximum) FY 2021-22 -
–
Rs. 25,000
– Rs. 50,000
Deduction on 80D ribbet
Medical
Insurance – Self, spouse, children
Medical Insurance – Parents more than 60 years old or (from FY 2015-16)
uninsured parents more than 80 years old
Section: 80DD
Allowed Limit (maximum) FY 2021-22 -
–
Rs. 75,000
– Rs. 1,25,000
Deduction on 80DD ribbet
Medical treatment for handicapped dependent or payment to specified scheme for maintenance of handicapped dependent
– Disability is 40% or more but less than 80%
– Disability is 80% or more
Section: 80DDB
Allowed Limit (maximum) FY 2021-22 -
–
Lower of Rs 40,000 or the amount actually paid
– Lower of Rs 1,00,000 or the amount actually paid
Deduction on 80DDB ribbet
Medical
Expenditure on Self or Dependent Relative for diseases specified in Rule 11DD
– For less than 60 years old
– For more than 60 years old
Section: 80U
Allowed Limit (maximum) FY 2021-22 -
–
Rs. 75,000
– Rs. 1,25,000
Deduction on 80U ribbet
Self-suffering
from disability :
– An individual suffering from a physical disability (including blindness) or
mental retardation.
– An individual suffering from severe disability
Section: 80GGB
Allowed Limit (maximum) FY 2021-22 -
Amount contributed (not allowed if paid in cash)
Deduction on 80GGB ribbet
Contribution by companies to political parties
Section: 80GGC
Allowed Limit (maximum) FY 2021-22 -
Amount contributed (not allowed if paid in cash)
Deduction on 80GGC ribbet
Contribution by individuals to political parties
Section: 80RRB
Allowed Limit (maximum) FY 2021-22 -
Lower of Rs 3,00,000 or income received
Deduction on 80RRB ribbet
Deductions on Income by way of Royalty of a Patent