The education cess to continue at 3 percent.
Where there is severe disability (disability is 80 or more) fixed deduction of tron legacy font generator Rs 1,25,000.A certificate of disability is required from prescribed medical authority.
40,000/- or the amount actually paid, whichever is less is available for expenditure actually incurred by resident taxpayer on himself or dependent relative for medical treatment of specified disease or ailment.
In case any employer contributes to the NPS scheme on behalf of the employee and the benefit of the same would be availed by the employee, the employee would also be allowed a deduction under Section 80CCD(2) for the amount of contribution made by the.From Financial Year 2017-18 onwards Any donations made in cash exceeding Rs 2000 will not be allowed as deduction.A certificate in form 10 I is to be furnished by the taxpayer from any Registered Doctor.If you are able to avail all these sections you can make close to.75 Lakhs income tax free.However, you have to remember that the premium paid by any mode of other than cash is eligible.Section 80E: Interest paid on Education Loan.Section 80G: Donation to approved charitable funds like Prime Minister Relief fund, etc. Therefore, now remember that you will not have fixed rate of return on these investments. .the Surcharge @15 for the FY 2016-17 or AS 2017-18 will be payable if the income is above Rs 1 crores). .Other Important Links : Download free Major ITR Forms for Financial Year ITR1, ITR2, ITR2A, ITR4S - pdf files, Fillable files AND Instructions HOW TO make best USE OF section 80C OR Saving Tax By Investing Under Section 80C How to Avoid TDS Deduction by Banks.NPS Section 80C Market Linked Market Linked Interest earned is tax free Withdrawal not permitted before maturity Tuition Fees including admission fees or college fees paid for full time education of any two children of the assessee.5,000 for preventive health check-up is available).Maximum deduction allowed is 10 of salary (in case the taxpayer is an employee) or 10 of gross total income (in case the taxpayer being self-employed) or Rs 1, 50,000, whichever is less.25,000/ if less than 60 years old and Rs 30,000 if parents are more than 60 years old.The details of such schemes alongwith some major features of each of these are given below : - (last reviewed in April, 2016) Saving Scheme Sec.1,600/- per month Section 80D - Deduction for Health Insurance premium.
Rs 1,50,000, section 80C, pre-construction interest 1/5th of Total preconstruction interest, within Rs 2,00,000* above.
Section 80DDB - Deduction in case of very senior citizens ( 80 years) on expenditure on account of specified diseases.