All about the Amended Income Tax deduction Under Chapter VI A in the Budget 2015 with All in One TDS on Salary for All State Employees for Financial Year 205-16

Download All State Govt employees All in One TDS on Salary for FY 2015-16 (Prepare
at a time Tax Compute Sheet + Individual Salary Structure + Individual
Salary sheet + Automated HRA Calculation + Form 16 Part A&B and Part
B for the Financial Year 2015-16)

As
per the Income Tax Rules the all deduction Under Chapter VI A with the
all current amended Section of Income Tax which was passed by the
Central Finance Budget 2015-16 have also in this Chapter and showing the
same is given below, so you can guess the which Section you can get the
Income Tax benefits.
Deduction Under chapter VI A is given bwlow:-

Section 80D: Deduction in respect of Medical Insurance

Deduction
is available up to Rs. 30,000/- for senior citizens and upto Rs.
25,000/ in other cases for insurance of self, spouse and dependent
children. Additionally, a deduction for insurance of parents (father or
mother or both) is available to the extent of Rs. 30,000/- if parents
are senior Citizen and Rs. 25,000/- in other cases. Therefore, the
maximum deduction available under this section is to the extent of Rs.
55,000/-. From AY 2016-17, within the existing limit a deduction of up
to Rs. 5,000 for preventive health check-up is available.

Download the Automatic Master of Form 16 Part A&B for FY 2015-16 (Prepare at a time 50 employees Form 16 Part A&B for the Financial Year 2015-16)

Section 80DD: Deduction in respect of Rehabilitation of Handicapped Dependent Relative

Deduction of Rs. 50,000/- is available on:
1.     expenditure incurred on medical treatment, (including nursing), training and rehabilitation of handicapped dependent relative.
2.     Payment or deposit to specified scheme for maintenance of dependent handicapped relative.
Further,
if the dependent is a person with severe disability, a deduction of Rs.
100,000/- is also available under this section. The handicapped
dependent should be a dependent relative suffering from a permanent
disability (including blindness) or mentally retarded, as certified by a
specified physician or psychiatrist.
Note:
A person with ‘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.

Download Govt & Non Govt  employeesAll in One TDS on Salary for FY 2015-16 (Prepare
at a time Tax Compute Sheet + Arrears Relief Calculation + Form 10E +
HRA Calculation+Form 16 Part A&B and Form 16 Part B)

Section 80DDB: Deduction in respect of Medical Expenditure on Self or Dependent Relative

A
deduction to the extent of Rs. 80,000/- or the amount actually paid,
whichever is less is available for expenditure actually incurred by
resident assessee on himself or dependent relative for medical treatment
of specified disease or ailment. The diseases have been specified in
Rule 11DD. A certificate in form 10 I is to be furnished by the assessee
from any Registered Doctor.

Section 80G: Deduction for donations towards Social Causes

The
various donations specified in Sec. 80G are eligible for deduction upto
either 100% or 50% with or without restriction as provided in Sec. 80G.
80G deduction not applicable in case donation is done in form of cash
for amount over Rs 10,000.

Donations with 100% deduction without any qualifying limit:

  • Prime Minister’s National Relief Fund
  • National Defence Fund
  • Prime Minister’s Armenia Earthquake Relief Fund
  • The Africa (Public Contribution – India) Fund
  • The National Foundation for Communal Harmony
  • Approved university or educational institution of national eminence
  • The Chief Minister’s Earthquake Relief Fund, Maharashtra
  • Donations made to Zila Saksharta Samitis.
  • The National Blood Transfusion Council or a State Blood Transfusion Council.
  • The Army Central Welfare Fund or the Indian Naval Benevolent Fund or The Air Force Central Welfare Fund.

Donations with 50% deduction without any qualifying limit.

  • Jawaharlal Nehru Memorial Fund
  • Prime Minister’s Drought Relief Fund
  • National Children’s Fund
  • Indira Gandhi Memorial Trust
  • The Rajiv Gandhi Foundation

Donations to the following are eligible for 100% deduction subject to 10% of adjusted gross total income

Donations to the Government or a local authority for the purpose of promoting family planning.

Donations to the following are eligible for 50% deduction subject to 10% of adjusted gross total income

Donation
to the Government or any local authority to be utilized by them for any
charitable purposes other than the purpose of promoting family
planning.

Section 80U: Deduction in respect of Person suffering from Physical Disability

Deduction
of Rs. 75,000/- to an individual who suffers from a physical disability
(including blindness) or mental retardation. Further, if the individual
is a person with severe disability, deduction of Rs. 125,000/- shall be
available u/s 80U. Certificate should be obtained from a Govt. Doctor.
The relevant rule is Rule 11D.

Section 80TTA: 

Deduction can be available from the Savings Bank Interest up to Rs. 10,000/- who’s Taxable Income below 5 Lakh

Section 87A:- 

Tax Rebate can be available up to Rs. 2,000/- who’s Taxable Income below 5 Lakhs. 

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