INCOME TAX Exemption Updates.

INCOME TAX Exemption Updates.

80 C:- Max limit 150000/- (Life Insurance Premium, MF , FD , NSC, PPF , Home Loan Principal , etc.)
80CCD:-50000/- (NPS)
80CCG:- 25000/- or 50% of your investment which ever is less
80D:-25000/-( Mediclaim Policy for self spouse, children)

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)....
80U :- 75000/- (in case of taking care of a Handicapped depends)..