Deductions from pension income
Murali Rotti Sathyanarayana (Manager of Accounts) (165 Points)
15 July 2018Murali Rotti Sathyanarayana (Manager of Accounts) (165 Points)
15 July 2018
CA Sunil Kumar
(Chartered Accountant)
(4524 Points)
Replied 15 July 2018
80GG- Only those taxpayer who doesn't receive any house rent allowance (HRA) from his employer which is exempt under section 10( 13A).you are eligible for deduction under 80GG.
Conveyance allowance - No, you can't.though there is not need to furnish any documents or proof of receiving conveyance allowance from your employer.
Medical insurance- You are allowed to claim a deduction up to Rs. 25,000 per budgetary year for medical insurance premium installments. The premium should be for you, your spouse, and dependent children.