WebAug 5, 2015 · The assessee claimed deduction under section 80E for interest expenditure on loan taken for higher education of his son in Washington, USA. During the assessment proceedings, the AO disallowed the same. As per the AO, the said deduction was allowable only in case of Indian education institutions duly authorized in India. WebApr 4, 2024 · This deduction is over and above the limit of Rs. 1.5 lakh available under Section 80C. Section 80CCD (2) This section provides tax benefits for the contribution made by an employer to an employee's NPS account. The maximum deduction allowed under this section is 10% of the basic salary plus dearness allowance, if any.
Deductions Under Section 80
WebJan 5, 2024 · Eligibility Criteria to Avail of Section 80E Benefits. Below given are the eligibility criteria for availing Section 80E benefits-. Loan should be obtained from a … WebIt is available under both old and new income tax regimes. The aggregate income tax deduction limit under sections 80C, 80CCC and 80CCD (1) is Rs.1.50 Lakh and an … motyw xbox one
Opting for new tax regime? Here are a few deductions you can …
WebNov 19, 2024 · In that case, they can claim an additional deduction for up to Rs 50,000 in a financial year under section 80CCD (1B). Section 80CCD (1B) deduction can be claimed on and above the limit of Rs 1.5 lakh under Section 80C & Section 80CCD (1). An individual can claim a maximum deduction of Rs 2 lakh by making contributions to … WebThe maximum deduction under this section is Rs. 40,000. In case the treatment is for senior citizens, a deduction can be claimed up to Rs. 60,000. Section 80E of the Income Tax offers deduction on interest paid towards education loans taken for higher studies. So, if you are repaying the education loan taken for yourself, your spouse or your ... WebApr 6, 2024 · Updated: 06 Apr 2024, 07:25 PM IST Vipul Das. In accordance with Section 80C of the Income Tax Act, NPS Tier 1 accounts are eligible for a deduction of up to ₹ … motyw vanitas co to