1. DEDUCTION UNDER CHAPTER VIA
While calculating Total Income the following deductions are allowed from Gross Total Income:
SEC 80C- For eligible Investments
SEC 80D-For medical Insurance Premium
SEC 80DD- For maintenance and medical treatment of disabled dependent.
SEC 80DDB – For medical treatment for specified disease.
SEC 80E – For interest on loan taken for Higher Education
SEC 80G – For Donation
SEC 80GG – For rent paid for residing in rented premises

2. DEDUCTION U/S 80C Deduction in respect of eligible investments.
Eligible assessees – Individual and H.U.F.
Deduction will be allowed to the least of the following –
Actual investment in eligible investment plan
Maximum Limit – Rs 1,50,000/-
Condition: Investments must be made during the P.Y.
Eligible Investments: Investments must be made in the following investment plan-
Life Insurance Premium on own life, on the life of spouse and children. Life premium paid will be subject to allowance as below-
If the policy is taken before , then maximum 20% of Policy value
If the policy is taken on or after , then maximum 10% of Policy value

3. If the policy is taken on or after 1. 4
If the policy is taken on or after , then maximum 15 % of Policy value.
Own contribution to Recognised P.F., Statutory P.F., Public Provident Fund
Investment in N.S.C. and accrued interest on the same.
Investment in ULIP
Investment in Mutual Fund of LIC
Tuition Fees of Children.
Principal amount repaid on loan taken for purchase or construction of house including stamp duty and registration cost.
Fixed deposit in bank for 5 years or more time period.
Investment in shares or debentures in public company or public financial institutions.

4. DEDUCTION U/S 80 D
Deduction in respect of medical insurance premium
Eligible assessee- Individual and H.U.F.
Conditions-
(i) Premium must be paid in cheque.
(ii) Premium must be paid on the health of the assessee himself, spouse, dependent children and dependent father and mother.
(iii) Premium must be paid out of taxable income
(iv) Premium must be paid under approved scheme of GIC.

5. Deduction- Least of the following
(a) Actual Premium paid
(b) Maximum Limit- as per limit discussed below-
Maximum limit is Rs 15000
However if the premium is paid by an individual who is a senior citizen the maximum limit will be Rs ( ).
If an individual pays premium for parents who are senior citizen, then maximum limit will be Rs20000 ( ).

6. SECTION 80DD
Deduction in respect of medical treatment of dependant who is disable.
Eligible assessees – Individual and H.U.F.
Conditions- a) expenditure should be made for the medical treatment, rehabilitation of dependant persons.
b) Deposit of amount should be made in the scheme of LIC or UTI for the maintenance of the dependant.
Deduction- Rs irrespective of the amount of expenditure. However, the amount is Rs 1,00,000 if the person is severely disabled(80%).

7. SECTION 80DDB
Deduction is allowed in respect of medical treatment of specified disease. Eligible assessees- Individual and H.U.F. Conditions- Expenditure is incurred on specified diseases. Deduction- Least of the following (a) Actual expenditure (b) maximum limit – Rs However if the person for whose treatment expenditure is incurred is a senior citizen then the above limit of Rs will be extended to Rs

8. SECTION 80E
Deduction in respect of loan taken for higher education Eligible assessees- Individual Conditions- The assessee has taken loan for himself or any member of his family for pursuing higher education. Deduction- Actual interest repaid during the previous year will be allowed as deduction. The deduction will be allowed for 8 A.Y. starting from the previous year in which the interest is first repaid.

9. SECTION 80G
Deduction is allowed in respect of donations to eligible funds.
Eligible assessees- All assessees
Conditions- Donation must be made in cash or cheque. Donation in
kind is not eligible for deduction.
Deduction- For deduction the following steps will be followed-
Step 1- Qualifying Amount-
100% Qualifying Amount for donation to-
Prime Minister’s National Relief Fund
Prime Minister’s Drought Relief Fund
Prime Minister’s Armenia Earthquake Relief Fund
Jawaharlal Nehru memorial Fund.
Indira Gandhi Memorial Trust.
Rajiv Gandhi Foundation.

10. SECTION 80G 7.National Defence Fund. 8. National Children fund.
9. National Foundation for Communal Harmony.
10. National Sports fund.
11. National Blood Transfusion Council.
12.National Illness Assistance Fund.
13.National Cultural Fund.
14.University or any educational institution of national eminence.
15. Chief Minister’s Earthquake Relief Fund, Maharastra.
16. Chief Minister’s Earthquake Relief Fund, Gujrat.
17. Funds set up by the State Government for medical relief of poor.
18. Africa Fund.
19. Zila Saksharat Samiti.

11. SECTION 80G B. Donations qualifying subject to 10% of Total income in-
Funds approved U/S 80G(5).
Government or Local authority to be utilised for charitable purposes.
Government or Local authority to be utilised for family planning.
Any donation made for the repair or renovation of any notified tample, mosque, gurudwara, chruch etc.
Step-2 Deduction-
a) 100% deductions for donations to fund mentioned in 1,3,7-19 except 8.
b) 50% of the balance.
Total Income means gross total income as reduced by the deductions under chapter VIA except section 80G and 80GG.

12. SECTION 80GG Deduction in respect of Rent paid.
Eligible assessees- Individual.
Conditions- i) If the assessee is employed anywhere then he is not in receipt of any H.R.A.
(ii) The assessee himself or herself or his spouse or any minor child does not own any residential house where the assessee resides or discharges his official duties.
(iii) If the assessee owns any residential house in any other places other than his place of duties, no benefit allowed for Self-occupied house can be claimed.
Deduction- Deduction will be allowed to the least of the following
Rent paid – 10% of total income.
Rs 2000 p.m.
25% of total income.

13. SECTION 80GG
Total Income means gross total income as reduced by the deductions under chapter VIA except section 80GG.