Complete Tax Saving Instruments Options

Please find complete list on tax saving instruments with dependents eligibility can find whether investment made in the name of father,wife,mother,father and children used for your tax saving option with their respective limit.
SECTION Chapter VI A Dependents Eligible for Tax Benefit
80D Medical Insurance Self, Spouse, Children & Parents 
In case of Individual, Spouse & Children =15,000
In case of parents below 65 years = Additional benefit of 15,000
In case of parents below 65 years = Additional benefit of 20,000
80DD Medical Treatment for Handicapped Dependent Self, Spouse, Children, Parents, Dependant Brothers & Sisters
If  disability <=80% then Rs.50,000 
If  disability >   80% then Rs.1 Lakh
80E Interest on Education Loan Self, Spouse & Children
No capping
80U Permanent Physical Disability including Blindness Self
If  disability <=80% then Rs.50,000 
If  disability >   80% then Rs.1 Lakh
SECTION 80C/80CCE/80CCF Dependents Eligible for Tax Benefit
80CCC Pension Policy - 80CCC Self, Spouse & Children
80CCF Long-Term Infrastructure Bonds Self
Maximum investment allowed Rs 20,000 over and above 80C limit of 1 Lakh
80C Provident Fund – PF Self
80C Voluntary Provident Fund – VPF Self
80C Life Insurance – LIC Self, Spouse & Children
80C Public Provident Fund – PPF Self, Spouse & Children
Total maximum contribution allowed  is Rs.70,000
80C National Savings Certificate – NSC Self
Interest will be taxable income
80C Infrastructure Bonds – IBOND Self
80C Tution Fees – TF Self
80C Mutual Fund – MF Self
80C Equity Linked Savings Scheme – ELSS Self
80C Unit Linked Insurance Plan – ULIP Self, Spouse & Children
80C 5-Yr bank fixed deposits (FDs) Self
80C Senior Citizen Savings Scheme 2004 (SCSS) Self
80C 5-Yr post office time deposit (POTD) scheme Self
80C Interest on NSC Self
80C Stamp Duty & Registration Charges Self
80C Home Loan Principal Repayment Self
SECTION Housing Loan Details Dependents Eligible for Tax Benefit
24 Self Occupied Property Self
24 Let Out Property Self

1 comment:

  1. Thanks for detailed description on the vital topic. I do believe to avail Tax deduction from total income as allowable in Income Tax Act, investment u/s 80c is a pivot investment avenues &/or contributions.