Deductions-80E-80U

7/29/2019 Deductions-80E-80U

1/10

Deductions


2/10

Deduction in respect of rent paid

80GG

Individual and HUF

Conditions to be satisfied:

should not be receiving HRA except u/s 10(13A)

expenditure on rent should exceed 10% of his

total income after all deductions except under

this section

accommodation occupied by the assessee forhis own residence

should not own any accommodation at the

place where he normally resides


3/10

Deduction in respect of rent paid

80GG (contd.)

Deduction allowed is least of the following:

actual rent 10% of the total income of the

assessee 25% of such total income

amount calculated at Rs. 2,000 p.m.


4/10

80 GGB/80GGC- Donation to

Political Parties or Electoral Trust

80GGB - Any sum contributed by an Indian Co.

To any Political party or Electoral trust.

100% allowed.

80GGC

Any Non Corporate Assessee.

Any sum Contributed by such Assessee.

100% deduction.


5/10

80JJA- Profits from Business of Collecting &

Processing of Bio-degradable Waste Any Assessee Business should be of :

- Collecting & Processing of biodegradable

waste, producing bio-fertilizers, bio- pesticides orother biological agent, producing bio-gas or

making pellets or briquettes for fuel or organic

manure.

100% Deduction for 5 consecutive yrs starting

from yr of commencement of Business.


6/10

Deduction in respect of interest loan

taken for higher education -80 E

Individual assessee

Interest on loan paid out of income chargeable

to tax loan taken for the purpose of pursuing higher

education of the assessee, spouse, children ofthe assessee, or student for whom assessee is

the legal guardian Higher education means any course of study

including vocational studies after class XII or itsequivalent.


7/10

Deduction in respect of interest loan

taken for higher education -80 E

(contd). The loan must have been taken from any

financial institution or approved charitable

institution. The deduction is allowed from the year in which

the assessee first pays the interest and for the

next 7 years.


8/10

80QQB/80RRB- Royalty from Books /

Patents

Resident Individual who is registered as first and

true inventor, including co-owner of the patent.

Maximum Amt Rs.3,00,000

Conditions to be satisfied:

Lumpsum consideration for Grant of Interest in

Copyright of any book being work of Literary,

Artistic or Scientific. No deduction for royalty income from text book

for schools, guides, newspapers etc.


9/10

80QQB/80RRB- Royalty from Books

/ Patents- contd.

Royalty on Books In excess of 15% of the Value

of Books shall be ignored for this deduction.

Formula :

Royalty Income - 15% of the Value of suchBooks - Expenses incurred for earning the

Royalty. (Max - 3Lac)

If Royalty Received outside India then it shouldbe remitted to India within 6months of relavant

PY.


10/10

80U- Deduction in case of person with

disability

Resident Individuals.

Deduction of Rs.50,000 (Rs.1,00,000 in case of

Severe Disability)

Severe Disability Include : Total Blindness,Permanent physical disability, Mental

retardation, autism, cerebral palsy and multiple

disabilities (Certificate to be produced)

Deductions-80E-80U

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