Deductions under Chapter VI-A of the IT Act: IT Circular 20/2015

5.5 DEDUCTIONS UNDER CHAPTER VI-A OF THE ACT

5. COMPUTATION OF INCOME UNDER THE HEAD “SALARIES”

5.2 DEFINITION OF “SALARY”, “PERQUISITE” AND “PROFIT IN LIEU OF SALARY” (SECTION 17):

5.3 INCOMES NOT INCLUDED UNDER THE HEAD “SALARIES” (EXEMPTIONS)

5.4 DEDUCTIONS U/S 16 OF THE ACT FROM THE INCOME FROM SALARIES

5.5.1
Deduction in respect of Life insurance premia, deferred annuity, contributions toprovident fund, subscription to certain equity shares or debentures, etc. (section 80C)

5.5.2
Deduction in respect of contribution to certain pension funds (Section 80CCC)

5.5.3
Deduction in respect of contribution to pension scheme of Central Government (Section 80CCD):

5.5.4
Deduction in respect of investment made under an equity savings scheme (Section 80 CCG):

5.5.5
Deduction in respect of health insurance premia paid, etc. (Section 80D)

5.5.6
Deductions in respect of expenditure on persons or dependants with disability

5.5.7.
Deduction in respect of medical treatment, etc. (Section 80DDB)

5.5.8
Deduction in respect of interest on loan taken for higher education (Section 80E)

5.5.9
Deductions on respect of donations to certain funds, charitable institutions, etc. (Section 80G)

5.5.10
Deductions in respect of rents paid (Section 80GG)

5.5.11
Deductions in respect of certain donations for scientific research or rural development (Section 80 GGA)

5.5.12 Deduction in respect of interest on deposits in savings account (Section 80TTA)

See Other parts of IT Circular 20/2015 at:

Income Tax Deduction from Salaries during FY 2015-16 AY 2016-17: Circular No. 20/2015

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