Income Tax Deduction Presentation

8/17/2019 Income Tax Deduction Presentation

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Sec 80 C to 80 U of Income Tax Act,1961

M.Viswanathan F.C.APatne!.S"#amanian an$ Com%an&

Deduction Under Chapter VI A


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Over view of Chapter VI A deductions


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Sec 80 C 'f Income Tax Act

( )ife ins"ance %emi"m fo %o*ic& +In case of In$i-i$"a*, on *ife of assessee, assessees

s%o"se an$ an& chi*$ of assessee ,In case of /UF, on *ifeof an& mem#e of the /UF

( S"m %ai$ "n$e a contact fo a $efee$ ann"it&In case of in$i-i$"a*, on *ife of the in$i-i$"a*,in$i-i$"a*s s%o"se an$ an& chi*$ of the in$i-i$"a*howe-e, contact sho"*$ not contain an o%tion toecei-e cash %a&ment in *ie" of ann"it&

S"m $e$"cte$ fom sa*a& %a&a#*e to 2o-enmentse-ant fo sec"in3 $efee$ ann"it& o ma4in3

%o-ision fo his wife5chi*$en 7"a*if&in3 amo"nt*imite$ to 0 of sa*a&:


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Sec 80C 'f Income Tax Act Cont

( Amo"nt can #e $e%osite$ #& an in$i-i$"a* o in thename of 3i* chi*$ of an in$i-i$"a* o in the name of the3i* chi*$ fo whom s"ch an in$i-i$"a* is the *e3a*3"a$ian. ( S"#sci%tion to noti


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( Conti#"tions #& an in$i-i$"a* ma$e "n$e ?m%*o&eesPo-i$ent F"n$ Scheme

( Conti#"tion to P"#*ic Po-i$ent F"n$ Acco"nt in thename of+ In case of in$i-i$"a*, s"ch in$i-i$"a* o his s%o"se o an&chi*$ of s"ch in$i-i$"a*. In case of /UF, an& mem#e of/UF( Conti#"tion #& an em%*o&ee to a eco3nise$ %o-i$ent

f"n$( Conti#"tion #& an em%*o&ee to an a%%o-e$s"%eann"ation f"n$( S"#sci%tion to an& noti


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( S"#sci%tion to noti


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( S"m %ai$ towa$s noti o #& the UTI UTI !etiement ene


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( S"#sci%tion to an& "nits of an& a%%o-e$ m"t"a*f"n$ efee$ to in section 10>, %o-i$e$ amo"ntof s"#sci%tion to s"ch "nits is s"#sci#e$ on*& ine*i3i#*e iss"e of ca%ita* efee$ to a#o-e. ( Tem $e%osits fo a


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Sec 80 CCC Pa&ment ines%ect Pension F"n$


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Sec 80 CC>Individual who is a Central Government employee, employed on or after 1-1-2004


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Sec 80 CCFFom the assessment &ea 01101, a s%ecia* $e$"ction as a**owe


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Sec 80 CC2


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Sec 80 >


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Sec 80 >>


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Sec 80 >>


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Sec 80 ?

>e$"ction is a-ai*a#*e if+

Assessee is an in$i-i$"a*./e has ta4en a *oan fom an& "in3 the %e-io"s &ea he has e%ai$ someamo"nt as inteest on s"ch *oan.S"ch amo"nt is %ai$ o"t of his incomecha3ea#*e to tax.


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Sec 80 ?

The entire amount paid by way of interest onsuch

Peio$ of >e$"ction

F"the, the $e$"ction sha** #e a**owe$ fo the%e-io"s &ea in which the assessee stats e%a&in3the *oan o inteest theeon an$ se-en %e-io"s &eas

imme$iate*& s"ccee$in3 it o "nti* the *oan to3ethewith inteest theeon is %ai$ #& the assessee in f"**,whiche-e is ea*ie.

='T? /i3he e$"cation means f"**time st"$ies foan& 3a$"ate o %ost3a$"ate co"se in en3ineein3,

me$icine, mana3ement o fo %ost3a$"ate co"se ina%%*ie$ science o %"e sciences inc*"$in3


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Sec 80 ??


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Sec 80 2

A. >onations ma$e to fo**owin3 ae e*i3i#*e fo 100$e$"ction witho"t an& 7"a*if&in3 *imit.

1. Pime MinisteJs =ationa* !e*ief F"n$. =ationa* >efense F"n$. Pime MinisteJs Amenia ?ath7"a4e !e*ief F"n$E. The Afica P"#*ic Conti#"tion In$ia F"n$@. The =ationa* Fo"n$ation fo Comm"na* /amon&6. A%%o-e$ "ni-esit& o e$"cationa* instit"tion of

nationa* eminenceK The Chief MinisteJs ?ath7"a4e !e*ief F"n$,Mahaashta8. >onations ma$e to Li*a Sa4shata Samitis.9. The =ationa* *oo$ Tansf"sion Co"nci* o a State*oo$

Tansf"sion Co"nci*.10. The Am Centa* e*fae F"n$ o the In$ian =a-a*


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>onations ma$e to the fo**owin3 ae

e*i3i#*e fo @0 $e$"ction witho"tan& 7"a*if&in3 *imit.

1. Bawaha*a* =eh" Memoia* F"n$

. Pime MinisteJs >o"3ht !e*ief F"n$. =ationa* Chi*$enJs F"n$E. In$ia 2an$hi Memoia* T"st@. The !aGi- 2an$hi Fo"n$ation.


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>onations to the fo**owin3 ae e*i3i#*e fo 100

$e$"ction s"#Gect to 7"a*if&in3 *imit i.e. 10 ofa$G"ste$ 3oss tota* income.

1.>onations to the 2o-enment o a *oca* a"thoit& fothe %"%ose of %omotin3 fami*& %*annin3.

.S"ms %ai$ #& a com%an& to In$ian '*&m%ic Association


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>onations to the fo**owin3 ae e*i3i#*e fo @0

$e$"ction s"#Gect to the 7"a*if&in3 *imit i.e. 10of a$G"ste$ 3oss tota* income.

>onation to the 2o-enment o an& *oca* a"thoit& to#e "ti*iDe$ #& them fo an& chaita#*e %"%oses othethan the %"%ose of %omotin3 fami*& %*annin3.

An& a"thoit& set "% fo %o-i$in3 ho"sin3accommo$ation o fo town %*annin3

An& noti


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Amo"nt of >e$"ction

The 7"ant"m of $e$"ction is as fo**ows +

Cate3o& A 100 of amo"nt $onate$Cate3o& @0 of the amo"nt $onate$ in the f"n$sCate3o&CN100 of the amo"nt $onate$ in the f"n$ss"#Gect to maxim"m *imit of 10 of A$G"ste$ 2TI.Cate3o& > N @0 of the amo"nt $onate$ in the f"n$ss"#Gect to maxim"m *imit of 10 of A$G"ste$ 2TI.

The tota* of these $e$"ctions "n$e cate3oies A,,C,H> is the 7"ant"m of $e$"ction "n$e thissection witho"t an& maxim"m amo"nt. A$G"ste$ 3ossTota* income fo this %"%ose means his 3oss tota*income min"s *on3tem ca%ita* 3ain, shot tem ca%ita*

3ain taxa#*e "5s 111A, an$ a** $e$"ctions "5s 80CCC to80U exce%t an& $e$"ction "n$e this section.


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Sec 80 22


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Sec 80 22A


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Sec 80 22


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Sec 80 22C >onation toPo*itica* %at&

If $onation is 3i-en to e3istee$ %o*itica* %at& in In$iao $onation to e*ectoa* t"st is e*i3i#*e then it is

a**owe$ as a $e$"ction O 100>e$"ction Act"a* amo"nt $onate$

Eligible Assessee

A** assessees, othe than *oca* a"thoit& an$ ati


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Sec 80 IA


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Sec 80 IA


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Sec 80 I


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Sec 80 IC


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Sec 80 I>


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Sec 80 I?


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Sec 80 BBA


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Sec 80 BBAA


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Sec 80)A


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Sec 80 P


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Sec 80 QQ


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Sec 80 !!


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Sec 80 TTA


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Sec 80 U


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Income Tax Deduction Presentation

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