Income Tax Deductions for The FY 2017-18 ComparePolicy.com
Income Tax Deduction u/s 80DDB AY 2017-18-CBDT New Circular For the purpose of this section, in the case of an employee, "dependant" means individual, the spouse, children, parents, brothers and sisters of the employee or any of them, dependant wholly or …... Deduction under section 80C A.Y.2017-18 & A.Y.2018-19. There are lots of deductions comes under Chapter VI-A from section 80C to 80U like 80HH, 80RRB, 80U and more.
Deduction 80C A.Y.2018-19 Complete Guide
Deductions on Section 80C, 80CCC & 80CCD Section 80C. Under section 80C, a deduction of Rs 1,50,000 can be claimed from your total income. In simple terms, you can reduce up to Rs 1,50,000 from your total taxable income through section 80C.... The other sections mentioned here too offer good tax deductions to taxpayers. Tax benefits under Sec 80C, 80CCF, 80D, 80G and 80E There's more to tax0-saving than just Section 80C.
Deductions under Income Tax Act 1961 (Applicable for AY
Deduction Under Section 80U (Person with disability) A person who is a disabled can claim benefits of Rs. 75,000 under Section 80U. In case of disability, the limit increases up to Rs. 1.25 lakh.... It is important to remember that the complete deduction under Section 80C, Section 80CCC and Section 80CCD (1) cannot exceed INR 1.5 lakh in aggregate. The additional tax deduction amounting to INR 50,000 under the Section 80CCD (1B) is above this limit.
Deduction 80D Complete Detail (Updated) A.Y.2018-19
Section 80C Tax Saving Options FY 2017-18(AY 2018-19) A maximum tax benefit can be claimed under 80C for the financial year 2017-18 is 1,50,000/-which is same as the previous year 2016-17. According to the latest Budget-2014, to encourage household savings the savings , the central government has raised the investment cap under Section 80C from Rs 1 lakh to Rs 1.5 Lakh. …... Now under Section 80CCD, a deduction of upto Rs. 50,000 is allowed over and above the limit of Rs. 1.50 lakh under Section 80C in respect of contributions made to NPS is also allowed. Thus, now the total deduction that can be claimed under Section 80C+Section 80CCD = Rs 2 lakh.
Deduction Under Section 80c To 80u For Ay 2017-18 Pdf
Tax Deduction under Section 80DDB and 80C for AY 2018-19
- CHAPTER VIA Sec 80A to Sec 80U wirc-icai.org
- TAX Planner IT Deductions for FY 2017-18 (AY 2018-19
- Income Tax Deductions Under Section 80C to 80U For A.Y
- Deduction 80D Complete Detail (Updated) A.Y.2018-19
Deduction Under Section 80c To 80u For Ay 2017-18 Pdf
· 25% of the total income (excluding long-term capital gain, short-term capital gain, and other deductions under Section 80C to 80U) · The total rent paid minus 10% of the total income. Section 80gg is the best way to save tax on your salary for a salaried or non-salaried individual.
- The chart given below describes the deductions allowable under chapter VIA of the I.T. Act from the gross total income of the assessees having income from salaries. SECTION NATURE OF DEDUCTION REMARKS 80CCC Payment of premium for annuity plan of LIC or any other insurer Deduction is available upto a maximum of Rs. 1,00,000/- The premium must be deposited to keep in force a …
- Complete guide on Income Tax deduction u/s 80C, 80CCD, 80CCC & 80CCG: Section “80C” which is the most widely used section of the Income Tax Act and the deductions available,
- Section 80U : Chapter VI-A (Income Tax) Deductions AY 2018-19 Deduction in case of a person with disability – Available to Resident individual subject to maximum of Rs.100,000. This Deduction under Chapter VI-A (Income Tax) is likely to be increased to Rs.1,25,000 for the upcoming AY 2018-19.
- Section 80C Tax Saving Options FY 2017-18(AY 2018-19) A maximum tax benefit can be claimed under 80C for the financial year 2017-18 is 1,50,000/-which is same as the previous year 2016-17. According to the latest Budget-2014, to encourage household savings the savings , the central government has raised the investment cap under Section 80C from Rs 1 lakh to Rs 1.5 Lakh. …
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