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  • List of Investment With Section Limit

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    Rohit yadav
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    This document summarizes various tax deductions allowed under sections 80C, 80CCC, 80CCD, 24, 80EEB, and 80D of the Indian Income Tax Act. Key deductions include up to Rs. 1.5 lakh combined under section 80C for life insurance premiums, provident funds, tuition fees, housing loans, and other savings. Sections 80CCC, 80CCD, and 80EEB allow deductions up to Rs. 50,000-1.5 lakh for pension plans and interest on electric vehicle loans. Section 24 allows a deduction of up to Rs. 2 lakh for interest on housing loans. Section 80D allows a deduction of Rs. 25,000-50,000 for

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    This document summarizes various tax deductions allowed under sections 80C, 80CCC, 80CCD, 24, 80EEB, and 80D of the Indian Income Tax Act. Key deductions include up to Rs. 1.5 lakh combined under section 80C for life insurance premiums, provident funds, tuition fees, housing loans, and other savings. Sections 80CCC, 80CCD, and 80EEB allow deductions up to Rs. 50,000-1.5 lakh for pension plans and interest on electric vehicle loans. Section 24 allows a deduction of up to Rs. 2 lakh for interest on housing loans. Section 80D allows a deduction of Rs. 25,000-50,000 for

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    3 views2 pages

    List of Investment With Section Limit

    Uploaded by

    Rohit yadav
    This document summarizes various tax deductions allowed under sections 80C, 80CCC, 80CCD, 24, 80EEB, and 80D of the Indian Income Tax Act. Key deductions include up to Rs. 1.5 lakh combined under section 80C for life insurance premiums, provident funds, tuition fees, housing loans, and other savings. Sections 80CCC, 80CCD, and 80EEB allow deductions up to Rs. 50,000-1.5 lakh for pension plans and interest on electric vehicle loans. Section 24 allows a deduction of up to Rs. 2 lakh for interest on housing loans. Section 80D allows a deduction of Rs. 25,000-50,000 for

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    of 2

    Tax Deduction allowed for those opted for Old Regime

    Section Criteria Limit

    Life Insurance Premium


    Provident Fund – Employee
    Subscription to certain equity shares
    80C Tuition Fees
    National Savings Certificate, Combined deduction limit of ₹
    Housing Loan Principal 1,50,000
    Other various items - PPF , Sukanya Smruddhi Yojna

    80CCC Annuity plan of LIC or other insurer towards Pension Scheme

    80CCC(1) Pension Scheme of Central Government

    Deduction limit of
    24 Interest Paid On Housing Loan House been let out / Self Occupied Property ₹ 2,00,000
    on the interest paid on loan taken

    Deduction limit of
    Deduction towards interest payments made on loan for purchase of Electric Vehicle where the
    80EEB ₹ 1,50,000
    loan is sanctioned between 1st April 2019 to 31st March 2023
    on the interest paid on loan taken

    80CCD(1B)
    Deduction limit of ₹ 50,000
    80CCD(1B) Deduction towards payments made to Pension Scheme of Central Government, excluding
    deduction claimed under 80CCD (1)

    80D For Self / Spouse or Dependent Children ₹ 25,000


    ₹ 25,000 - for Age group Below 60
    For Parents
    ₹50,000 if any person is a Senior
    Citizen

    Actual HRA received


    50% of [basic salary + DA] for those
    HRA House Rent Allowance (HRA) living in metro cities
    40% of [basic salary + DA] for those
    living in non-metros

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