Deductions
This query is : Resolved
03 December 2008
My Net Taxable Income is Rs.3,05,817/- after taking deduction u/s 80 c Rs.1 lakh. I want to know is there any way I can save tax. Can I take health insurance policies u/s 80 D upto what extent amount is deductible u/s 80 D.
03 December 2008
Maximum amount deductible u/s 80D is Rs.15000. An Individual assessee can take the benefit of deduction by taking insurance of himself, spouse, dependent children or parents. In case Insurance of senior citizen (ie person above the age of 65 yrs) the maximum permissible limit is Rs.20000.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- Average Cost Of High Quality Diamonds
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
