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Deductions from pension income
can I claim deductions towards conveyance allowance of Rs. 19,200 per annum and Rs. 15,000 towards medical insurance and Deduction under section 80GG towards rent paid.. Please advise
Replies (1)
80GG- Only those taxpayer who doesn't receive any house rent allowance (HRA) from his employer which is exempt under section 10( 13A).you are eligible for deduction under 80GG.
Conveyance allowance - No, you can't.though there is not need to furnish any documents or proof of receiving conveyance allowance from your employer.
Medical insurance- You are allowed to claim a deduction up to Rs. 25,000 per budgetary year for medical insurance premium installments. The premium should be for you, your spouse, and dependent children.
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