INCOME TAX Exemption Updates...
(For FY:16-17)
ЁЯФ▒ 80 C:- Max limit
150000/- (Mutual Fund-ELSS scheme, Pension Plans, Life Insurance Premium, One time investment in Life Insurance, Immediate Assured Pension Plans, NSC, PPF, BANK FD with lock period, housing loan principal amount etc.)
ЁЯФ▒ 80CCD:-50000/- (national Pension scheme)
ЁЯФ▒ 80CCG:- 25000/- or 50% of your investment which every is less
ЁЯФ▒ 80D:-25000/-
( Mediclaim Policy for self spouse, children)
ЁЯФ▒ 30000/- for dependent parents u/s-80D. Medical reimbursement :- 15000/- US 17(2)
ЁЯФ▒ 80DDB:- Medical expense occurred on dependent for specified illment
ЁЯФ▒80TTA:- Up to 10000/- for Interest from saving bank account, post MIS, mutual fund's liquid fund within one year.
ЁЯФ▒ Gift tax :- Exempted upto 50000/-. Above 50k full amount taxable (FY) from other than Blood relation...... Gift from Blood relation is 100%Exempted.......
ЁЯФ▒ Transport allowance :- 19200/- (FY)
C.E.A. :- 2400/- (FY)
ЁЯФ▒ HRA :- as per the calculation
ЁЯФ▒ 24(b) :- 200000/- (home loan interest only)
ЁЯФ▒ 80G :- full amount in few selected organisation. This exemption is 50%
ЁЯФ▒ *80GGB :- 100% exemption for political parties*
ЁЯФ▒ 80EE :- unlimited (interest on education loan)....
ЁЯФ▒ 80U :- 75000/- (in case of taking care of a Handicapped depends)..
Have a Great 2016-2017 Financial Year......!! ЁЯСНЁЯСНЁЯСН
So Plan Your Financial Year 2016-17 Income Tax Exemption.
(For FY:16-17)
ЁЯФ▒ 80 C:- Max limit
150000/- (Mutual Fund-ELSS scheme, Pension Plans, Life Insurance Premium, One time investment in Life Insurance, Immediate Assured Pension Plans, NSC, PPF, BANK FD with lock period, housing loan principal amount etc.)
ЁЯФ▒ 80CCD:-50000/- (national Pension scheme)
ЁЯФ▒ 80CCG:- 25000/- or 50% of your investment which every is less
ЁЯФ▒ 80D:-25000/-
( Mediclaim Policy for self spouse, children)
ЁЯФ▒ 30000/- for dependent parents u/s-80D. Medical reimbursement :- 15000/- US 17(2)
ЁЯФ▒ 80DDB:- Medical expense occurred on dependent for specified illment
ЁЯФ▒80TTA:- Up to 10000/- for Interest from saving bank account, post MIS, mutual fund's liquid fund within one year.
ЁЯФ▒ Gift tax :- Exempted upto 50000/-. Above 50k full amount taxable (FY) from other than Blood relation...... Gift from Blood relation is 100%Exempted.......
ЁЯФ▒ Transport allowance :- 19200/- (FY)
C.E.A. :- 2400/- (FY)
ЁЯФ▒ HRA :- as per the calculation
ЁЯФ▒ 24(b) :- 200000/- (home loan interest only)
ЁЯФ▒ 80G :- full amount in few selected organisation. This exemption is 50%
ЁЯФ▒ *80GGB :- 100% exemption for political parties*
ЁЯФ▒ 80EE :- unlimited (interest on education loan)....
ЁЯФ▒ 80U :- 75000/- (in case of taking care of a Handicapped depends)..
Have a Great 2016-2017 Financial Year......!! ЁЯСНЁЯСНЁЯСН
So Plan Your Financial Year 2016-17 Income Tax Exemption.
