Showing posts with label IT Schemes. Show all posts
Showing posts with label IT Schemes. Show all posts

Wednesday, September 1, 2010

Top 10 Attractive I.T. deductions

Top 10 Attractive I.T. deductions
1. Premium paid to Insurance Policy – Under Section 80C

2. Contribution paid to Pension funds up to 1,00,000 - Under Section 80CCC

3. Contribution paid to Central or State Government Pension Scheme - Under Section 80CCD

4. Premium paid to Medical Insurance up to Rs.15,000 – Under Section 80D

5. Maintenance of a disabled person (Dependant) Rs.50,000 – Under Section 80DD

6. Deduction up to 40,000/- available for the amount paid for medical treatment (specified disease)- Under Section 80DDB

7. Deduction for the amount spent for repayment of loan for higher education - Under Section 80E

8. Deduction for the amount given as donation to Charitable institutions - Under Section 80G

9. Deduction for the amount spent for rent (limited to 10% of total income) - Under Section 80GG

10. Deduction for the amount given as contribution to political parties - Under Section 80GGB.