Anand Gandhi & Associates the pune based Investment consultant. Providing Investment consultancy & planning at your doorstep.

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Income Tax saving Scheme details

We will suggest relevant tax-saving ideas and instrument options that will effectively address the important issues regarding tax-planning:

Customized & considering personalized risk appetite suggestions of product like - INSURANCE / PPF / TAX SAVING MUTUAL FUND / CAPITAL GAIN BONDS

Sl.No. I.T. Sec. Nature of Deduction Amount of deduction
1.
a.




b.
c.
80 CCE
80 C




80 CCC
80 CCD
Life Insurance- LIC / ICICI PRULIFE
Tax saving mutual fund -ELSS
notified Bonds of NABARD
Pension Fund
Contribution to Central Government Pension Schemes. Upto 10% of salary with matching
contribution from
Government.
Maximum overall
Deductions
allowed u/s. 80C,
80CCC & 80CCD
is Rs. 1,00,000
(Employer contribution is deductible without any limit from fy 2011-12)
3. 80 D a) Medical Insurance
b) Medical Insurance Premium paid for his/her parent or parents
c) For Senior Citizens
Upto Rs.15,000
Upto Rs.15,000
Upto Rs.20,000
5. 80 E Interest on loan taken from Financial/Charitable Institutions for Self/Spouse/Children for pursuing Higher Education (for a max. period of 8 yrs) Actual Interest repaid
6. 80 G a) Donations made to National Defence Fund, Prime Minister's Relief Fund, approved Funds of reputed Educational Institutions, National Trust for Welfare of persons with Autism, Cerebral Palsy etc.

b) Donations made to Jawaharlal Memorial Fund, PM's Drought Relief fund, Any approved Charitable Institution/Trust, Religious Institutions, a corporation established by the Government for promoting interest of the members of a Minority Community
100% of Donation



50% of Donation restricted to 10% of Adjusted Gross Total Income
7. u/s 54EC Bond of NHAI or
REC
Max. Rs.  50
Lacs  in Fin. Yr.)