Income Tax Deduction List - FY 21-22 (AY 22-23)

Section 80C –

Deductions on Investments (Rs. 1,50,000)

Section 80CCD – 

Pension Contribution

Section 80CCC –

Insurance Premium /Deduction for life insurance annuity plan.

80CCD (1) Deduction for NPS

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)

80CCD (1) Deduction for NPS

Additional contribution to NPS (Rs. 50,000)

Contributions to Atal Pension Yojana is also eligible for deduction.

80CCD (1) Deduction for NPS

Employer’s contribution to NPS account

Maximum up to 10% of salary

Section 80GG – House Rent Paid

for Example: – Rent paid minus 10% of total income – Rs. 5000/- per month – 25% of total income

Section 80E – Interest on Education Loan

Deduction for Interest on Education Loan for Higher Studies

Section 80EE – Interest on Home Loan

Deductions on Home Loan Interest for First Time Home Owners

Section 80D – Medical Insurance

Deduction for the premium paid for Medical Insurance

Section 80DD – Disabled Dependent

Deduction for Rehabilitation of Handicapped Dependent Relative

Section 80DDB – Medical Expenditure

Deduction for Medical Expenditure on Self or Dependent Relative

Section 80U – Physical Disability

Deduction for Person suffering from Physical Disability

Section 80G – Donations

Deduction for donations towards Social Causes

Section 80GGB – Company Contribution

Deduction on contributions given by companies to Political Parties

Section 80GGC – Contribution to Political Parties

Deduction on contributions given by any person to Political Parties

Section 80RRB – Royalty of a Patent

Deduction with respect to any Income by way of Royalty of a Patent

Section 80 TTB – Interest Income

Deduction of Interest on Deposits for Senior Citizens

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