Trick To Remember Section 80 Deductions  Mnemonic Codes

Trick To Remember Section 80 Deductions  Mnemonic Codes  : Get amazing tips to remember the Income Tax Section 80 Deductions for CA IPCC & Final Exams. Today, we are providing Simple tricks to remember Section 80 Deductions in Income Tax Act. In CA IPCC Tax Exam, Deductions related to Section 80 in Income Tax chapter is very important. For your CA Career also, memorizing & remembering these Income Tax Deductions Section 80   Remembering all the Income Tax Section 80 Deductions is no mean task. There are such instances where students get confused with one section number with the other section numbers. This leads to much bigger problems.

Trick To Remember Section 80 Deductions  Mnemonic Codes

Trick To Remember Section 80 Deductions  Mnemonic Codes :

To solve this confusion to some extent, we are providing the list of Section 80 Deductions along with the Mnemonic code to remember them.

Mnemonic Code (Shortcut Code) for Section 80 Deductions

Trick To Remember Section 80 Deductions  Mnemonic Codes

Trick To Remember Section 80 Deductions  Mnemonic Codes : 

80CCC [Pension Funds] and 80CCD(1): Rs.1,50,000 Deduction for the above two.

80CCG [Investment in Equity Savings] 50% of amount investedOrRs.25,000Whichever is lower

80DD [Maintenance and Medical Treatment of Disabled dependent]: Flat Deduction of Rs.75,000 (In case of severe disability i.e., 80%, Deduction is Rs.1,25,000]

80D [Medical Insurance Premium]:Rs.25,000 allowed (Rs.30,000 in case of senior citizen)

80DDB [Medical treatment for specified diseases]: Rs.40,000 for Normal Individuals

Rs.60,000 for Senior CitizensRs.80,000 for Super Senior Citizens

80E [Interest on Educational Loan]: Deduction allowed in Initial Assessment Year and 7 preceeding years.

80G [Donations]:50% and 100% in different cases.

80GG [Rent]: Least of the following is allowed as deduction-

1. 25% of total income
2. Rent paid (-) 10% of Adjusted Income
3. Rs.2,000 per month

80GGB [Contribution to Political Parties]:Actual contribution is allowed as deduction.

80QQB [Royalty Income] and80RRB[Royalty on Patents]:Least of Amount received or Rs.3,00,000 is allowed as deduction.

80TTA [Interest from Savings Account]:Actual interest subject to a maximum of Rs.10,000

80U [Person with disability]:Rs.75,000 for normal disability and Rs.1,25,000 for severe disability.Share this article

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 In previous post we have given Frequently asked questions about CPT, IPCC and CA Final statement of marks. Today we are providing details about ” How to Download IPCC Result Card “. CA IPCC results have declared. Students who have passed IPCC, submit their IPCC result card while applying for articleship registration. In general ICAI will send IPCC statement of marks with in one month after declaration of results. But ICAI also providing online facility to download IPCC statement of marks / marksheet which is valid for articleship registration. Download IPCC result card  from below !!

CA IPCC Gratuity Act Law Notes 5 Min Revision

CA IPCC Gratuity Act Law Notes 5 Min Revision : Facility for Downloading the Statements of Marks relating to Intermediate (IPC) Examination –

Statements of Marks relating to Intermediate (IPC) Examination

Physical copies of statement of marks in respect of Intermediate (IPC) Examination, in the standard printed stationery are under dispatch, in the normal course.

CA IPCC Gratuity Act Law Notes 5 Min Revision

CA IPCC Gratuity Act Law Notes 5 Min Revision :

1. I have passed only one Group of Intermediate (IPC)/Final examination. Do I get a pass certificate for having passed one of the Groups?

No. Pass certificates are not issued for having passed only one of the Groups. Pass certificates are issued only when you pass both the groups of the exams mentioned above, either together or separately group-wise.

CA IPCC Gratuity Act Law Notes 5 Min Revision : 

2. I have passed both the groups of Final/Intermediate(IPC) Examination. Do I get a pass certificate from the Institute?

Pass certificates are issued to candidates who have passed both the groups of the Intermediate (IPC)/Final Examination, either together or separately group-wise. A hard copy of the pass certificate, is sent to all the candidates by Speed Post, at the address given by the candidates in their exam form.

CA IPCC Gratuity Act Law Notes 5 Min Revision : 

3. I passed CPT and also got a result card from the Institute. Do I get a pass certificate also?

No. Pass certificates are not issued to CPT pass candidates.

CA IPCC Gratuity Act Law Notes 5 Min Revision :

4. Do I have to apply for issue of pass certificates after passing both the Groups of the exam? Do I have to pay any fees for the same?

You do not have to apply for issue of pass certificate. It will be issued to you, free of cost, by the Exam Dept., upon your passing both the groups of the exam.

CA IPCC Gratuity Act Law Notes 5 Min Revision :

5. I passed both the groups of the CA Final/Intermediate (IPC) exam with distinction. Do I get any distinction certificate?

Candidates who pass both the Groups of CA Final/Intermediate (IPC) Examination with distinction, will receive pass certificates stating that they have passed the respective exam with distinction.

Trick To Remember Section 80 Deductions  Mnemonic Codes

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