Category Archives for "Income Tax Deductions"

Section 80D FY 2019-20

Income TAX Benefit  Of Health Insurance  Policy  Under Section 80D FY 2019-20 Health Insurance Tax benefits fy 2019-20: for assessment year 2020-21,you can take income tax benefits against the Heath premium,you pay for self,spouse, and dependent children  and your parents, under section 80D fy 2019-20. In today’s costly world,you must have a health insurance policy for […]

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Section 80G FY 2018-19 AY 2019-20

Section 80G Donation limit  FY 2018-19 AY 2019-20 Tax benefit under section 80G: If you are a socialist and often contribute for betterment of the community,Country,Temple Gurudwaras’Church and Mosque. Then you can definitely take huge income tax benefit under section 80G of income tax act. There are four categories under which tax payers can tax donation […]

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Section 80U For Physically mentally Disabled Persons 2018-19

Section 80U : Income Tax Benefit For Physically And mentally Disabled Persons One can take income tax benefit under section 80U if he/or she is either physically or mentally disabled. But he/she should be himself/herself disabled. Percentage of Disability : Taxpayer must have minimum 40% disability.And he/she must have disability certificate from a chief medical officer […]

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National Pension Scheme Contribution Section 80CCD

Section 80CCD:Benefits Of National Pension Scheme Contribution Section 80CCD deals with those emoyees or taxpayers who are subscribers in NPS(New Pension Scheme). 80CCD section is splitted into three sections: Section 80CCD(1),80CCD(2) And  80CCD(1b). Section 80CCD(1):  All the employees who had joined service on or after 1st april 2004 come strictly under NPS in general and […]

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