Maximum deductions allowed from income

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

30 May 2017 Hi!

I have a query. What is the maximum amount of deduction any individual can claim by investing anywhere under Section 80C or any other sections per Year and under which sections.

Suppose one can invest in PPF and get a deduction of Rs.150000 and where else can one invest or do anything. Please advise.

Thanks!

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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30 May 2017 Other than section 80C there are only very few options available such as section 80D (mediclaim), section 80G (donation) and section 80E(interest on education loan).

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SAFIQUE UZZAMAN

SAFIQUE UZZAMAN (Expert)
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30 May 2017 The aggregate deduction allowed under sec 80c, 80ccc and 80ccd is not more than one lakh. Among other options available a deduction of amount up-to 20000 allowed under sec 80ccf in the form subscription to long term infrastructure Bonds. As per sec 80ccg deduction up-to 50 percent of contribution to equity saving scheme ,maximum 25000 is allowed

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Querist : Anonymous

Querist : Anonymous (Querist)

31 May 2017 Thanks for your replies!

But as I have read different articles available on different portals online, Rs.150000 is deductible under Section 80C and as Mr.Abhishek says, deductions are also allowed under Sections 80D, 80G, 80E, what's the respective amount under each sections which are allowed.

As Mr.Safique says, Deductions allowed under section 80 CCF is Rs.20000 max. and 80CCG is max. Rs.25000, these two when added to Section 80C Rs.150000 make up Rs.195000 in total. And deductions allowed under Sections 80D, 80G, 80E are yet to be added.

Am I correct in saying as per the above. Please kindly advise. Thanks!

Querist : Anonymous

Querist : Anonymous (Querist)

01 June 2017 Thanks for your replies!

But as I have read different articles available on different portals online, Rs.150000 is deductible under Section 80C and as Mr.Abhishek says, deductions are also allowed under Sections 80D, 80G, 80E, what's the respective amount under each sections which are allowed.

As Mr.Safique says, Deductions allowed under section 80 CCF is Rs.20000 max. and 80CCG is max. Rs.25000, these two when added to Section 80C Rs.150000 make up Rs.195000 in total. And deductions allowed under Sections 80D, 80G, 80E are yet to be added.

Am I correct in saying as per the above. Please kindly advise. Thanks!

Querist : Anonymous

Querist : Anonymous (Querist)

01 June 2017 Hi!

Please kindly advise on the above. Thanks!