Incometax Exemption

I want to get information about the Income Tax Deductions as well as Exemptions. So here can you provide me information about it?

[Shaleen]

If you want to get information about the Income Tax Deductions as well as Exemptions, then here I am telling you about it, as you want.

Income Tax Deductions and Exemptions
Income Tax Section
How Much Tax Can You Save?

Sec. 80C
Upto Rs. 46,350/- saved on investment of Rs. 1,50,000/-

Sec. 80CCC
Upto Rs. 30,900/- saved on Investment of Rs.1,50,000/-

Sec. 80 D
Upto Rs. 10,815/- saved on investment of Rs.35,000/-
(Inclusive of Rs. 20,000/- towards health insurance of parents who are senior citizens)

For Men Below 60 Years Of Age
Income Tax Slab Income Tax Rate
Income upto Rs. 2,50,000 Nil

Income between Rs. 2,50,001 - Rs. 500,000 10% of Income exceeding Rs. 2,50,000

Income between Rs. 500,001 - Rs. 10,00,000 20% of Income exceeding Rs. 5,00,000

Income above Rs. 10,00,000 30% of Income exceeding Rs. 10,00,000



For Women Below 60 Years Of Age
Income Tax Slab Income Tax Rate
Income upto Rs. 2,50,000 Nil

Income between Rs. 2,50,001 - Rs. 500,000 10% of Income exceeding Rs. 2,50,000

Income between Rs. 500,001 - Rs. 10,00,000 20% of Income exceeding Rs. 5,00,000

Income above Rs. 10,00,000 30% of Income exceeding Rs. 10,00,000



For Senior Citizens (Age 60 years or more but less than 80 years)
Income Tax Slab Income Tax Rate
Income upto Rs. 3,00,000 Nil

Income between Rs. 3,00,001 - Rs. 500,000 10% of Income exceeding Rs. 3,00,000

Income between Rs. 500,001 - Rs. 10,00,000 20% of Income exceeding Rs. 5,00,000

Income above Rs. 10,00,000 30% of Income exceeding Rs. 10,00,000


For Senior Citizens (Age 80 years or more)
Income Tax Slab Income Tax Rate
Income upto Rs. 5,00,000 Nil

Income between Rs. 500,001 - Rs. 10,00,000 20% of Income exceeding Rs. 5,00,000

Income above Rs. 10,00,000 30% of Income exceeding Rs. 10,00,000