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A glance of deductions available 80C to 80U

A glance of deductions available 80C to 80U

A glance of deductions available 80C to 80U

A glance of deductions available 80C to 80U

The government provides certain exemptions under various sections of the Income Tax Act, to encourage investors to save and hence reduce their tax liability. The tax benefits under section 80C allow one a maximum investment of Rs 1 lakh.

Therefore, if you are in the 30% tax bracket, if you invest a maximum of Rs 1,00,000 you save Rs 30,000. Similarly, if you are in the 20% tax bracket and if you invest a maximum of 1,00,000 you save Rs 20,000. GoodReturns.in has explained the various sections with the instruments available for exemption.

* The maximum amount of deduction which can be claimed in aggregate of 80C ,80CCD & 80CCD is Rs 1,00,0000/-. Gross total income means total income computed in accordance with the provisions of the Act before making any deduction under sections 80C to 80U. The income of a person is computed under the following heads:

1. Salaries.

2. Income from house property.

3. Profits and gains of business or profession.

4. Capital gains.

5. Income from other sources.

A glance of deductions available 80C to 80U

A glance of deductions available 80C to 80U

A glance of deductions available 80C to 80U

A glance of deductions available 80C to 80U

A glance of deductions available 80C to 80U

A glance of deductions available 80C to 80U

A glance of deductions available 80C to 80U

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1 comments
  1. Deepak says:

    For which assessment this deductions is available,, if it’s for current A.Y. Then Please confirm the amount of deduction in case of section 80C, amount of gross total income in case of section 80CCG and many more mistakes, please provide us a correct deductions sheet, thank you

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