Deduction under chapter vi a for ay 2019-20 pdf

The most popular one is section 80c of chapter via. In this article you may find complete details for how you can avail the benefit of deduction us 80c by investing in the govt schemes. Deduction in respect of profit and gains from industrial undertaking or enterprises engaged in infrastructure development section 80ia all assessee. The maximum tax exemption limit under section 80c has been retained. Chapter via all deductions, deductions under section 80c.

One of the deductions available under chapter vi a is section 80p which is. As per chapter iii of income tax act, 1961, there exists a provision of income tax exemption. Besides the tax deductions under section 80c and 24b, an individual can now claim up to rs 1. Income tax deduction limit under section 80c is set to 1. Currently fy 201819, income tax on notional rent is payable if one has more than one selfoccupied house. Income tax deductions list fy 201920 how to save tax for ay 20. Incometax act allows deduction to an individual under section 24b and section 80ee for the interest paid on loan taken to purchase or construct a residential house property. List of income tax deductions for fy 201920, ay 202021. Read here to know deduction in respect of interest on housing loan, deduction under section 80ee, etc.

Income tax deductions list fy 201920 how to save tax. Income tax deductions allowed under chapter via for fy 201819 ay 201920 0. Here we are providing list of all deductions covered under chapter via of income tax act. For those who have invested in the scheme in fy 201617 are eligible for deduction in the years 201718, 201819 and 201920. Deductions under chapter vi a of income tax act for fy 201920. Please click tap on the section number to view hide its content and hide content of other section. Deductions under chapter via myitreturn help center.

All about deduction under chapter via for ay 201920. Certain scheduled banks, nonscheduled banks but other than foreign banks and cooperative bank other than primary agricultural credit society or primary co. In case of any doubt, please refer to relevant provisions of the incometax act. Deduction in respect of profits and gains by an undertaking or an enterprise engaged in development of special economic.

Deduction for interest on loan taken to buy electric vehicles with a motive to make a pollution free india by reducing vehicular pollution, the finance no. Other preferred dedcutions under chapter via are 80d, 80e, 80g, 80ddb and so on. Deduction is limited to whole of the amount paid or deposited subject to a maximum of rs. Yes, deduction can be claimed by the assessee provided expenses have been actually incurred by him for the treatment of his father. First you can claim standard deduction of rs 50,000 for fy 201920. Deductions under chapter vi a of income tax act for fy.

You can seek deduction under chapter vi a, which will help you. Income tax deductions and income tax exemptions us 80 c for fy. Deductions under section 80c to 80 u of income tax act 1961 ay 202021 fy 201920. In this article we provide complete list of deductions with name of section, brief details for section, list of assessees who can avail that exemption, amount of deduction etc. So the total deduction you get under section 80d can. Deduction shall be allowed under section 32ad in addition to. No tax on notional rent on second selfoccupied house has been proposed. Chapter via list of all deductions at a glance, deduction under chapter vi a. Standard deduction on salary will be available from ay 201920 and onwards only. So, you can now hold 2 selfoccupied properties and dont have to show the. The home loan should have been sanctioned between 1st april, 2019 to 31st march 2020.

Find out the deduction under section 80c for ay 201819. List of income tax deductions from section 80c to 80u of income tax act for fy 201920ay 202021. Income tax deductions list fy 201920 ay 202021 chapter via. Deductions under section 80c to 80 u of income tax act.

Section wise income tax deductions for ay 202122 fy 202021. All about deduction under chapter vi a for ay 201920. Income tax deductions allowed under chapter via for fy 201819 ay 201920 sp intellect june 18. Deductions allowable under various sections of chapter vi a.