10% of salary (in case taxpayer is employee)
20& of gross total income (in case of self-employed)
Rs 1.5 Lakh ( limit allowed u/s 80C)
Additional contribution to NPS (Rs. 50,000)
Contributions to Atal Pension Yojana is also eligible for deduction.
Employer’s contribution to NPS account
Maximum up to 10% of salary
for Example: – Rent paid minus 10% of total income – Rs. 5000/- per month – 25% of total income
Deduction for Interest on Education Loan for Higher Studies
Deductions on Home Loan Interest for First Time Home Owners
Deduction for the premium paid for Medical Insurance
Deduction for Rehabilitation of Handicapped Dependent Relative
Deduction for Medical Expenditure on Self or Dependent Relative
Deduction for Person suffering from Physical Disability
Deduction for donations towards Social Causes
Deduction on contributions given by companies to Political Parties
Deduction on contributions given by any person to Political Parties
Deduction with respect to any Income by way of Royalty of a Patent
Deduction of Interest on Deposits for Senior Citizens