Income Tax Deductions: 80C, 80D, 80E, 80G, 80TTA, 80TTB

Income Tax Deduction: 80C, 80D, 80E, 80G, 80TTA, 80TTB: The income tax deductions are allowed based on specified incomes, expenditures, investments, or donations. The amount of taxable income is calculated by deducting various deductions available under Chapter VI-A of the Income Tax Act.

We are providing you here the income tax deductions chart for ay 2022-23. The income tax deduction is available for making various payments like investments, medical expenses, donations, interest and more. You can check here all deductions available which will reduce your taxes. Please find below a chart of income tax deductions for the years 2022-23.

Income Tax Deduction (A.Y.2022-23)

Income Tax Deduction Chart (A.Y. 2022-23): You can check the income tax deduction chart for A.Y.2022-23. Please don’t forget to read the important notes related to income tax deductions.

Section Eligible AssesseeEligible PaymentsPermissible Deductions
80CIndividual or HUFInvestment or Contribution to LIP/PPF/SPF/RPF/NSC/Tution Fees, UTI/MF/AnnuityPlan/NABARD/Loan Repayment for House Construction or Purchase/Rs. 1,50,000/-*
80CCCIndividualPension Funds/Annuity Plan of LICRs. 1,50,000/-*
80CCD(1)IndividualsContribution by an employee or any other individual toward National Pension Scheme (NPS) Up to 10% of the salary of the employee or up to 20% of gross total income in the case of any other individual
80CCD(1B)IndividualsContribution by an individual toward NPS Max 50,000/-
80CCD(2)EmployeesContribution by the employer toward NPSUp to 10% of salary of the employee
80DIndividual or HUFMedical Insurance PremiumRs. 25,000 (Rs.50,000/- for Senior Citizens) Max Rs.1,00,000 (Including Parents)
80DDIndvidual or HUFMaintenance including medical treatment of a dependent disabledServere Disability Rs. 1,25,000
Other cases - Rs.75,000
80DDBIndividual or HUFDeduction for medical treatment of specified diseases or ailmentsRs.40000 in case of senior citizens
Rs.1,00,000 in case of very senior citizens
80EIndividualInterest on loan taked for higher educationDeduction available for initiial 8 assessment year or until the interest is paid in full, whichiver is earlier.
80EE IndividualAdditional deduction for interest on loan borrowed for acquisition of self-occupied house propertyRs.50,000/-
80EEAIndividualInterest on loan taken for acquisition of residential house propertyRs.1,50,000/-
80EEBIndividualInterest on loan taken for purchase of electric vehicleRs.1,50,000/-
80GAll AsseseeDonation to certain funds, charitable institution etc.1) 100% deduction without any qualifying limit
2) 50% deduction without any qualifying limit
3) 100% deduction with qualifying limit
4) 50% deduction with qualifying limit
80GGIndividuals Rent PaidLeast is available for deduction -
1) 25% of total income
2) Rent paid - 10% of total income
3) Rs.5000 per month
3) Rs. 5000 p.m.
80GGAAll assessees not having any income chargeable under the head "Profits and gains of business or profession"Certain donations for scientific research or rural development
80GGBAny CompanyContribution to political partiesActual Contribution (if made by other than cash)
80GGCAny person other than local authroity and AJP funded by GovtContribution to politicial partiesActual Contribution (if made by other than cash)
80TTAIndividual or HUFInterest on deposites(not being time deposit) in a saving account with banks, cooperative society and post office.Interest Received or 10,000 whichever is lower
80TTBIndividuals or HUFInterest on DepositsUpto Rs.50,000 shall be allowed to resident individuals who are senior citizens
80UIndividualsPerson with DisabilityRs.75,000/- in case of a person with disability and Rs. 1,25,000/- in case of a person with severe disability.

Notes for Income Tax Deductions Chart for A.Y.2022-23

Please read the following notes carefully to understand the income tax deductions chart.

  • The aggregate amount of deduction under section 80C, 80CCC and 80CCD (1) cannot exceed Rs. 1,50,000. There is an additional deduction of Rs.50000 u/s 80CCD (1B) is allowed.
  • No deduction under section 80CCG is allowed from AY 2018-19. However, if an assessee has claimed a deduction for AY 2017-18 and earlier assessment year then he is allowed for deduction till 2019-20.
  • Individuals/HUFs opting for an alternate tax regime under section 115BAC shall not be allowed any deduction under Chapter VI-A, except (a) Deduction in respect of employer’s contribution to National Pension Scheme u/s 80CCD92), and (b) Deduction in respect of employment of new employees u/s 80JJAA.
  • The aggregate amount of deductions allowable under sections 80C to 80U cannot exceed the gross total income as reduced by short-term capital gains from equity shares, etc. (u/s 111A), or any long-term capital gains (u/s 112 or 112A).
  • These deductions are not allowable against any income by way of winning from lotteries, crossword puzzles, card games or other games.

2 thoughts on “Income Tax Deductions: 80C, 80D, 80E, 80G, 80TTA, 80TTB”

  1. Being a senior citizen, I have received interest of Rs 60000 from HDFC bank and Rs 90000 from bank SBI, Now how much interest I have to pay in income tax

  2. Being a senior citizen, I have received interest of Rs 60000 from bank HDFC and Rs 90000 from bank SBI, Now how much interest I have to pay?


Leave a Comment