Please read this deductions ..must see very imp

Indian Income Tax deductions, Tax exemption limits (imp.)

Income Tax Deductions Explanation	Maximum deduction allowed Remarks
Income Tax deduction - Section 80C Provident Funds, Life Insurance premium, ELSS, Bank deposits (>5 yr.), tuition fees, principal part of EMI on housing loan, etc. Also sec 80CCC - Investment in Pension Funds Also sec 80CCD – Cont. to Govt. Pension Scheme by Govt. emp^ee	Maximum tax deduction or tax exemption limit: Rs. 1,00,000
Income Tax deduction - Section 80 CCF Infrastructure Bonds	20,000/- per annum along with section 80C (over & above 80C)
Income Tax deduction - Section 80D Premium in health insurance of you, your spouse, children or dependent parents	Maximum tax deduction or tax exemption limit: Rs. 15000 (tax exemption limit for senior citizen is Rs. 20000)
Income Tax deduction - Section 80DD Medical treatment (including insurance) of disabled dependent	Maximum tax deduction or tax exemption limit: Rs. 50000. (Rs. 75000 if disability is severe, i.e. >80%)
Income Tax deduction - Section 80DDB Dedⁿw.r.t medical treatment of specified diseases – Of self, spouse, children parents, Bro. & Sis.	Maximum tax deduction or tax exemption limit: Regular person- 40000 p.a Senior citizen -60000 p.a
Income Tax deduction - Section 80E Interest paid on educational loan taken for higher education Of you, your spouse or children.	Maximum tax deduction or tax exemption limit: no limit !
Income Tax deduction - Section 80GG House rent in excess of 10% of income, if no HRA is received.	Maximum tax deduction or tax exemption limit: Rs. 2000 per month or 25% of your gross salary, whichever less.
Income Tax deduction - Section 80G Donations	Maximum tax deduction or tax exemption limit: 100% of donation amount for unrestricted, 50% of donation amount for all other donations.
Income Tax deduction - Section 80 U Deduction available to Disabled person.	Maximum tax deduction or tax exemption limit: Rs. 50000. (Rs. 75000 if disability is severe, i.e. >80%)