Hello everyone, Hope all of  you doing great; enjoy our latest updates with us. Today we will share income tax exemptions with you. Details are:-

  • 80 C:- Max limit 150000/- (MF-ELSS, MF-Pension Plans, Life Ins Premium, One time investment in LI-Immediate Assured Pension Plans, NSC, etc.)
  • 80CCD:-50000/- (NPS)
  • 80CCG:- 25000/- or 50% of your investment which every is less
  • 80D:-25000/- (Mediclaim Policy for self spouse, children)
  • 30000/- for dependent parents u/s-80D. Medical reimbursement :- 15000/- US 17(2)
  • 80DDB:- Medical expense occurred on dependent for specified illment
  • 80TTA:- Up to 10000/- for Interest saving bank account
  • Gift tax:- Exempted upto 50000/-. Above 50k full amount taxable (FY) from other than Blood relation.. Gift from Blood relation is 100% Exempted
  • Transport allowance:- 19200/- (FY)
  • C.E.A:- 2400/- (FY)
  • HRA:- as per the calculation
  • 24(b):- 200000/- (home loan interest)
  • 80G:- full amount in few selected organisation. This exemption is 50%
  • 80GGB:- 100% exemption for political parties
  • 80EE:- unlimited (interest on education loan)

(Sukhwinder Singh) | +919999939069