13 Tax Deductions 80C to 80U | How to Save Tax | Deductions Exemption | Tax Deduction 2024-25 | ITR

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Tax deductions under sections 80C to 80U are provisions in the Indian Income Tax Act that allow taxpayers to reduce their taxable income by investing in specified avenues or fulfilling certain criteria. Here's a brief overview:

Section 80C: This is one of the most popular sections for tax-saving investments. Under this section, taxpayers can claim deductions for investments made in various instruments such as Employee Provident Fund (EPF), Public Provident Fund (PPF), Equity Linked Savings Schemes (ELSS), National Savings Certificate (NSC), Tax-saving Fixed Deposits, etc. The maximum deduction allowed under this section is ₹1.5 lakh.

Section 80CCC: This section provides deductions for contributions made to certain pension plans offered by insurance companies. The maximum deduction available under this section is also within the overall limit of ₹1.5 lakh provided under Section 80C.

Section 80CCD: This section deals with deductions for contributions made to the National Pension System (NPS), Atal Pension Yojana (APY), or any other pension scheme notified by the government. The maximum deduction available under this section is ₹1.5 lakh, but it is over and above the limit of ₹1.5 lakh specified under Section 80C.

Section 80D: This section provides deductions for premiums paid for health insurance policies for self, spouse, children, and parents. The maximum deduction limit varies depending on the age of the insured and the type of policy.

Section 80DD: This section provides deductions for expenses incurred on the medical treatment, training, and rehabilitation of disabled dependents. The deduction limit varies based on the extent of disability.

Section 80DDB: Under this section, deductions are available for expenses incurred on the treatment of specified diseases for self or dependents. The deduction amount depends on the age of the person being treated.

Section 80E: This section provides deductions for the interest paid on education loans taken for higher studies. There is no upper limit on the amount of deduction.

Section 80G: This section provides deductions for donations made to certain charitable organizations. The deduction amount can vary depending on whether the donation is eligible for 100% or 50% deduction and subject to certain limits.

Section 80TTA/80TTB: These sections provide deductions on interest earned on savings accounts (80TTA) and on interest earned by senior citizens (80TTB), subject to certain limits.

Section 80U: This section provides deductions for individuals with disabilities. The deduction amount depends on the extent of disability.

These are some of the key deductions available under sections 80C to 80U of the Indian Income Tax Act. It's essential to understand the specific provisions and eligibility criteria for each deduction to effectively utilize them for tax planning.
13 Special Tax Deductions | How to Save Tax | Section 80 C to 80 U | Tax Deduction 2024-25 | ITR
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