Web1 day ago · To calculate the taxable income of an assesse from his gross total income there are certain deduction allowable under sections 80C to section 80U under Chapter VI of the Income Tax Act 1961. Section 80C to Section 80GGC are applicable to Individuals and Hindu Undivided Family, while Section 80IA to section 80PA are applicable to other than ... WebSection 80U: Income tax Deductions for Physical Disability This deduction is for resident individuals suffering from physical disability. In the case of normal disability (more than 40% but less than 80%), a deduction of Rs.75,000 is available. If the person suffers from a severe disability (more than 80%) the deduction increases to Rs. 1.25 Lakhs.
Income Tax on lottery: लॉटरी किंवा बक्षीस म्हणून जिंकलेल्या …
WebDec 26, 2024 · Section 80GG is another tax-saving option for salaried 2024-2024 other than 80C. If you are salaried but do not receive HRA because you work in the informal sector or because you are self-employed, you can claim deduction towards rent paid under Section … WebRead About income tax deductions under section 80C. Check sections Under section 80's like 80D, 80E, 80G, 80J, 80P and more deductions under 80 sections. ... Only for HUFs. Section 80U . Conclusion: Go beyond 80C deductions and save a sizable chunk of income … how much can be invest in nps
Income tax Deductions FY 2024-23: Useful for Tax Planning
WebJan 4, 2024 · Section 80C of the Income Tax Act is the section that deals with these tax breaks. It states that qualifying investments, up to a maximum of Rs. 1.50 Lakh , are deductible from your income. This means that your income gets reduced by this investment amount (up to Rs. 1.50 Lakh), and you end up paying no tax on it at all! WebAug 16, 2024 · So to help you out we are herewith easy income tax chart showing deduction from 80C to 80U applicable from Assessment Year 2012-13 Onwards. If you find this chart useful and you want your friend to save tax please share with this article with them. If you have any query related to tax saving please post in comment section. WebMar 28, 2024 · Under section 80CCC income tax deduction for the contributions made in specified pension plans can be claimed. The tax deduction can be claimed by individuals (whether resident or non-resident). Maximum permissible deduction under sections 80C, … Section 80QQB of income tax act 1961, states provisions related to Royalty … how much can deathstroke lift