FinCalC Blog Archives - Page 11 of 24

Section 80G – Income Tax Deduction on Donations

Section 80G of income tax act allows you to claim donations made to relief fund or charitable organizations as deductions with old tax regime

Section 80U of income tax act allows you to claim tax deduction if you are physically disabled with at least 40% of disability percentage..

Section 80DDB of income tax act allows you to claim deduction against the medical expenses occurred for specific diseases mentioned below..

Section 80EEA of income tax act helps in saving income tax with old tax regime on home loan interest amount paid in a financial year..

Section 80EE of Income Tax Act allows Income Tax deduction on Home Loan Interest Amount with limit of Rs. 50,000 in financial year..

Section 80E of Income Tax Act allows us to claim Interest amount of Education Loan that is taken for higher studies for loan up to 8 years..

Section 80GG of Income Tax Act allows us to claim house rent amount paid in a financial year if you don’t receive HRA in salary payslip..

5 Golden Rules of Finance.. 1. Don’t spend more than you make 2. Don’t take on debt to please others 3. Actively invest & track your net worth..

Section 80CCC of Income Tax Act allows us to claim deduction for insurance premiums paid, if the policy provides us the pension plan

Section 24 of Income Tax Act allows us to claim Home Loan Interest amount of maximum Rs. 2 lakh in a financial year to save income tax..