Tax exemptions india 2015 16

tax exemptions india 2015 16

Interest from savings bank account should be first included in other income and deduction can be claimed of the total interest earned or Rs 10,000, whichever is less.
3,00,000 2 of income tax 1 of income tax Income between.
Section 80TTA deduction is not available raffles medical clinic katong on interest income from fixed deposits, recurring deposits, or interest income from corporate bonds.Rs 5000/- per discount tire oceanside hours month 25 of total income, for the financial year Deduction calculation has been raised to Rs 5,000 a month from Rs 2,000 per month.Till date he was living in a rented flat and now decides to buy a home for himself for the 1st time.In simple terms, you can reduce up to Rs 1,50,000 from your total taxable income through section 80C.75,000/- to a resident individual who suffers from a physical disability (including blindness) or mental retardation.

This is a fixed deduction and not based on bills or expenses.
Say if you have taken a loan on 30th April 2015 for a construction linked property.
500,000 5 of Income exceeding.5,00,000 2 of income tax 1 of income tax, income above.Where there is severe disability (disability is 80 or more) fixed deduction of Rs 1,25,000.A certificate of disability is required from prescribed medical authority.Deductions on Medical Insurance Section 80D: Deduction for premium paid for Medical Insurance Deduction is available up.Deduction is allowed for contribution done by any way other than cash.Note: A person with baby boy souvenirs and giveaways severe disability means a person with 80 or more of one or more disabilities as outlined in section 56(4) of the Persons with disabilities (Equal opportunities, protection of rights and full participation) Act.Nil, income between.To claim Rs 2lakhs deduction on such home loan interest, the construction of the property must be completed within 3 years.