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Deductions from Gross Total Income - Coggle Diagram
Deductions from Gross Total Income
Chapter VI A contains deductions from gross total income under section 80C to 80U
80C
LIC
PF
PPF
MUTUAL FUNDS
HOME LONE PRINCIPLE
TUTION FEES FOR 2
TERM DEPOSIT
80CCC
Contributions to certain pension funds of LIC or any other insurer (up to Rs. 1,50,000)
80CCD
Contribution to pension scheme notified by Central Government up to 10% of salary.
shall also be allowed as deduction under section 80CCD(2)
80CCG
50 per cent of amount invested by specified resident individuals in notified equity savings scheme (subject to certain conditions and limits) (maximum deduction : Rs. 25,000)
80D
Amount paid (in any mode other than cash) by an individual or HUF to LIC or other insurer to effect or keep in force an insurance on the health of specified person.
80DD
Deduction of Rs. 75,000 (Rs. 1,25,000 in case of severe disability
80DDB
Expenses actually paid for medical treatment of specified diseases and ailments subject to certain conditions
80E
Interest on loan taken from financial institution/approved charitable institution for pursuing higher education
80EE
Interest payable on loan taken from any financial institution for the purpose of acquisition of a residential house property
80EEA
Tax incentives for affordable housing
80EEB
Tax incentives for electric vehicles
80G
Donations to certain approved funds, trusts, charitable institutions/donations for renovation or repairs of notified temples, etc.
80GG
Rent paid in excess of 10% of total income for furnished/unfurnished residential accommodation
80GGA
Certain donations for scientific, social or statistical research or rural development programme or for carrying out an eligible project or scheme or National Urban Poverty Eradication Fund
80GGB
Sum contributed to any political party/electoral trust
Indian company
80GGC
Sum contributed to any political party/electoral trust
All assessees, other than local authority
For certain incomes
80-IA
Profits and gains from industrial undertakings engaged in infrastructure facility, telecommunication services, industrial park, development of Special Economic Zone, power undertakings, etc.
80-IAB
Profits and gains derived by undertaking/enterprise from business of developing a Special Economic Zone notified on or after 1-4-2005
80-IB
Profits and gains from industrial undertakings, cold storage plant, hotel, scientific research & development, mineral oil concern, housing projects, cold chain facility, multiplex theatres, convention centres, ships, etc.
80-IC
Profits and gains derived by an undertaking or an enterprise in special category States (Himachal Pradesh, Uttaranchal, Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland and Tripura)
80IAC
Deduction in respect of eligible Start-Up
80IBA
Deductions in respect of profits and gains from Housing Projects
80IC
Special provisions in respect of certain undertakings or enterprises in certain special category States
80-ID
Profits and gains from business of hotels and convention centres in specified areas
80-IE
Deduction in respect of certain undertakings in North Eastern States.
80JJA
Entire income from business of collecting and processing or treating of bio-degradable waste for generating power, or producing bio-fertilizers, bio-pesticides or other biological agents or for producing bio-gas, making pellets or briquettes for fuel or organic manure
80JJAA
Additional wages paid to new regular workmen employed in the previous year for 3 assessment years
80LA
Certain incomes of Scheduled banks/banks incorporated outside India
80P
Specified incomes
80PA
Specified incomes
Producer Company
80QQB
Royalty income of author of certain specified category of books
80RRB
Royalty on patents up to Rs. 3,00,000
80TTA
Interest on deposits in savings bank accounts
80TTB
Interest on deposits in case of senior citizens upto Rs. 50,000
80U
Deduction of Rs. 75,000, in the case of a person with severe disability,