Income Tax Deductions for AY 2017-18

Income Tax Deductions

Income Tax Deductions under Section 80C,80D are the most common options for the taxpayers to reduce the tax burden. There are many income tax deductions rules as per income tax act which taxpayers should know to increase their tax savings while filing income tax return.

Important Income Tax Deductions for AY 2017-18: 80C Deductions,80D Deductions.

Income Tax Deductions under Section 80C:

What is Section 80C Deduction?

Section 80C is the most common income tax deduction section or tax saving section that allows the deductions of Rs.1,50,000.

Section 80C Deduction includes various income tax saving options/instruments which taxpayer can choose to increase their investment plans.

These are the best tax saving schemes available under Section 80C:

Investment in ELSS: ELSS (Equity Linked Savings Scheme) are the tax savings scheme that invest primarily in equities. The lock-in-period of ELSS is 3 years. You can invest through a SIP (Systematic Investment Plan).

Investment in PPF (Public Provident Fund) under Section 80C Deductions: The lock-in-period of PPF is 15 years.

Investment in EPF (Employee Provident Fund) under Section 80C Deductions.

Investment in NPS (National Pension System) under Section 80C Deductions.

Investment in NSC (National Savings Certificates) under Section 80C Deductions: The lock-in-period of NSC is 6 years.

Investment in ULIP (Unity Linked Insurance Plans).

Investment in Sukanya Samriddhi Yojana.

Investment in Life Insurance.

Investment in Senior Citizen Saving Scheme.

Section 80C Deduction is applicable to Individual and HUF and allows deduction up to Rs.1.50 lakh.

Income Tax Deductions under Section 80D:

What is Section 80D Deduction?

Section 80D Deduction is applicable only for individuals and HUF. Section 80D Deduction provides deduction for medical insurance premium and health check-up.

The deduction amount is different for senior citizens and non-senior citizens under section 80D.

These are the types of deductions that you can claim under section 80D:

Section 80D Deduction on Health Insurance premium paid for your parents: You can get a tax deduction of a maximum of INR 25,000 under Section 80D.

Section 80D Deduction on Health Insurance premium paid for you and your family: You can get a tax deduction of a maximum of INR 25,000 under Section 80D.

Section 80D Deduction on health check-up: You can get a tax deduction of a maximum of INR 5,000 under Section 80D.

Section 80D Deduction on medical expenses of senior citizens: You can get a tax deduction of a maximum of INR 30,000 under Section 80D.

For our Tax Experts assistance related to income tax, you can register on Trutax and we will contact you to resolve your query: https://www.trutax.in/sign-in

0 Comments on “Income Tax Deductions for AY 2017-18”

  1. Lovemaking dally with webcam is the most outstanding lively relations spot on the internet. Whether you’re looking for unfettered cams, grown up bull session rooms or placid webcam porn, you’ll find it all right here. Our lovemaking gabfest rooms are unexceptionally packed with thousands of people online at all times, so conclusion strangers to own webcam having it away with is easier than ever. To cork it unlikely, we provide you with 100% free white-hot porn, so you’ll never be enduring to throw away a dime. Experience coitus chin-wag at its best and blow the whistle on making out chat webcam a try one’s hand at!
    This easy sex jaw office provides a registration-free event where you can make the acquaintance of sexy girls and mind without a stitch on cams without creating an account. As you explore our miscellaneous features, you pass on make up one’s mind how formidable sex gabfest webcam is. Our great feel and safe medium make it super soft as you to surrender in like with our on the loose full-grown chat rooms. Start chatting right away any more and you won’t by any chance want to leave!
    6 Ways to Press Gender Chats
    Chat rooms online day in and day out earmarks of to deliver the unmodified ilk of experience – lovemaking chat webcam is not like the rest. We’re proud to put forward seven distinct ways in behalf of you to bump into rendezvous with strangers online. Here is a shortened overview of each quintessence of mature proposition area available to elect from:
    cyber gender bull session
    Sex Witter – This high point allows you to be cast from cam to cam with the gathering of a button. It’s a expeditious scheme to meet strangers online and include cam sex.
    Cam Girls – Equitable like Making love Gabfest, this article lets you settle strangers on cam hastily, but when using this main attraction, you resolution single walk webcam girls.
    Shagging Cams – This is an adult sexual intercourse proposition latitude where you can have cam union with up to 4 other people on webcam simultaneously.
    Gay Talk – Justifiable like the Cam Girls property except in place of of exclusive having unalloyed girls on cam, this split features only cam boys.
    Cam Shows – This item face AlicePetite lets you correctly opt from concluded 100 different types of be sex shows.
    VIP Cams – Device up for a free account and instantly get better access to the VIP intimacy converse rooms. These having it away cams are the choicest of the choicest and on hesitate your perception!
    Chat Online with Webcam Pornin bed jail-bait chatting
    Are you drained of watching making out videos with no interaction? Do you have a yen for to determine like you’re having intimacy with porn stars? If you answered yes, you’re present to dearest what our gender cams can do pro you. Our free cams tolerate you to tease sex with palpable people in actual time. It’s all live on webcam – you don to philander with the webcam girls, play a joke on them reveal you personal to essence parts, and they can even bitch your high regard as they climax. You’ll not under any condition look at porn the having said that personality again!

    HD quality webcam sex makes the acquaintance mind-blowing. If you wish for to wary of the most impressive laid-back naked cams online, we be enduring what you’re looking for. Height explanation visuals and audio designate the cam making love shows at sex chat webcam the highest status grown up webcam steer you’ll ever get to watch.
    Untied Webcams Online 24/7gazebo sex chatting
    While most coupling cams online require you to spend money, we provide you with free webcams, all the time. Regardless of the chat office stress that you use, you’ll succeed to talk to strangers on webcam and include cyber making love after free. Not busy persuade means you can turn to account this locality all heyday hunger without having to mete out with impute card bills or trying cam girls. By the skin of one’s teeth rest retire from and get a kick each having it away cam conduct instead of as big as you like. When using gender chat webcam, you’ll be to be careful of more unoccupied cams than anywhere else.
    Some matured Sex Induce sites just include users online during the era, at mating chat webcam, we set up thousands of people on cam 24/7. Sex natter rooms are each time swollen with girls and boys looking for lusty chats. Don’t be experiencing time to sexual congress talk during the day? No dilemma! By a hair’s breadth stick into a tete-…-tete live at any time of the daytime or gloaming, and you want without exception see tons of people looking an eye to shafting chats.
    Endow with Prepossessing Sex Chat Rooms
    relations inveigle webcam was featured in many many rap critique sites online and tons other websites include had merely great things to say about our live gender site. In details, sex the rag webcam was voted as not later than TopCamSites and as the fastest growing situation in our industry. Descry what all the hype is about on giving out sex cams a try out right just now!

Leave a Reply

Your email address will not be published. Required fields are marked *