The aim is to be an aware and an informed citizen of India as when you file your taxes correctly by using all the available deductions; that is the time when you have more money in your pocket and you spend more and it means that Indian economy rolls.
|1.||Deductions under Sec. 80C (For amounts paid / contributed / invested in Provident Fund, PPF, NSC, Life Insurance, Eligible MFs, Tuition Fee, Repayment of Home Loan etc. - Max. Rs. 1 lac)|
|2..||Deductions under Sec. 80CCC (For contributions to certain pension funds)|
|3.||Deductions under Sec. 80CCD (For contributions to pension scheme of Central Government)|
|4.||Total of Deductions under Sections 80C, 80CCC and 80CCD (Max. Rs. 1 lakh)|
|5.||Deductions under Sec. 80CCF for Investment in Infrastructure Bonds (Max. Rs. 20,000)|
|6.||Deductions under Sec. 80D (For Health Insurance of parents. If parents are Senior Citizen Rs. 20,000/-, else Rs. 15,000/-).|
|7.||Deductions under Sec. 80D (For Health Insurance of parents. If parents are Senior Citizen Rs. 20,000/-, else Rs. 15,000/-).|
|8.||Deductions under Sec. 80DD (For maintenance including medical treatment of dependent having disability - Max. Rs. 1 lac.)|
|9.||Deductions under Sec. 80DDB (For medical treatment, etc. (Max. Rs. 40,000/-)|
|10.||Deductions under Sec. 80E (For interest on loan taken for higher education)|
|11.||Deductions under Sec. 80G (For donations to certain funds, charitable institutions, etc.)|
|12.||Deductions under Sec. 80GG (For rents paid)|
|13.||Deductions under Sec. 80RRB (For royalty on patents)|
|14.||Below Deduction must be used which is invariably left out.|
Deductions under Sec. 80U (For a person with disability - Max. Rs. 50,000, in case of severe disability Rs 1 Lakh.