Exemption on sec 80,80c,80ccd........extra

INCOME TAX DEDUCTION

MAXIMUM DEDUCTION ALLOWED PER YEAR

SECTION 80C

Life Insurance premium

 Actual amount contributed / invested, up to Rs. 1 lakh

Contribution to Employee Provident Fund (EPF)

Contribution to Public Provident Fund (PPF)

National Savings Certificate (NSC)

Unit Linked Insurance Plans (ULIPs)

Repayment of Home Loan Principal

Equity Linked Savings Schemes (ELSS)

5 Year Bank FDs

Pension Funds

SECTION 80CCF

Long Term Infrastructure Bonds

Actual amount invested, up to Rs. 20,000

SECTION 80D

Mediclaim Premium for self and family

Actual premium paid, up to Rs. 40,000 (if both self and parents are senior citizens)

SECTION 80DD

Expense on treatment of a disabled relative, or payment of insurance premium for said relative

Rs. 50,000 or Rs. 1 lakh depending on severity of disability

SECTION 80DDB

Expenses incurred on medical treatment for yourself or for a dependent relative (not necessarily disabled)

Actual expense incurred, up to Rs. 40,000 (Up to Rs. 60,000 in case of senior citizen)

SECTION 80E

Interest of an education loan taken for yourself, your spouse or your child

Full interest amount paid during the year, for a limit of 8 years

SECTION 80G

Donation to certain charitable institutions

100% or 50% of donation given, depending on the institution, subject to limitations

SECTION 80U

Deduction in case of a disabled assessee

Rs. 50,000 or Rs. 1 lakh, depending on severity of disability