Tax Deduction Rule
| Particulars | Minimum | Maximum | Description |
|---|---|---|---|
| Tax on Employment u/s 16 | - | 2500 | - |
| Interest paid on Housing Loan for Self Occupied Property u/s 24 | - | 1,50,000 | - |
| Deduction u/s 80C | - | 1,50,000 |
Investment in eligible securities, Expenditures,
Repayments etc. (PF, PPF, Life Insurance, NSCs, ULIPS, MFs, Home Loan repayment, tuition fees etc.) Max - Rs.1.50 lacs |
| Tax Relief u/s 87A | - | 2000 | Rs. 2000/- whose taxable income is below 5,00,000 |
| Deduction u/s 80D | - | - |
Health insurance of parents. (Max - 20000 if parents
are Senior Citizen, else 15000.) Parents have been presumed as senior citizens in |