This document summarizes various tax deductions and exemptions under the Indian Income Tax Act. It discusses deductions available for housing loans, insurance premiums, pension contributions, donations, medical expenditures, and more. Key points covered include exemption limits for HRA received, valuation of rent-free accommodation and motor cars provided by employers, tax treatment of recognized and unrecognized provident funds, and deductions available for investments in specified bonds, equity savings schemes, and more.

1. PRESENTED BY : AJAY GARG,
Team AGBians

2. PRESENTED BY : AJAY GARG,
Team AGBians

3. CONDITION
 The Actual HRA received from the Employer
 Actual Rent Paid by you – 10% of your basic
Salary
 40% of your Salary (in case non metro city)
 50% of your Salary (in case metro city)
PRESENTED BY : AJAY GARG, Team
AGBians

4. EXEMPTION
LIMIT
UP TO Rs. 800 pm
For Pune
PRESENTED BY : AJAY GARG,
Team AGBians

5. Step 1 : Find out unfurnished
accommodation's value
Step 2 : Find out Furniture value
if it is furnished house.
RENT FREE
ACCOMMODATION HOUSE
Value of perquisite: Value of
unfurnished accommodation
plus value of furniture. PRESENTED BY : AJAY GARG,
Team AGBians

6. OTHER THAN GOVERNMENT EMPLOYEES:
When Accommodation
is owned by the
Employer
Accommodation is provided where
Population is :-
 Less then 10 lakh- 7.5 % of Salary
 More then 10Lakh but less then 25
lakh – 10% of salary
 More then 25 Lakh- 15 % of Salary
When Accommodation is
taken on lease or on hire
Actual Amount of Lease Rent
or
15 % of salary
When Accommodation is
Provided in Hotel
24% of Salary
or
Actual Charges Payable
PRESENTED BY : AJAY GARG,
Team AGBians
Whichever
is less
Whichever
is less
CONT..

7. VALUATION OF MOTOR CAR
1. WHEN USED WHOLLY
FOR OFFICIAL
PURPOSES
NIL
2. WHEN USED WHOLLY
FOR PERSONAL OF THE
EMPLOYEE
Amount Actually Incurred
by the Employer + Normal
Depreciation(10% of Cost of
Car) + Driver Salary Paid by
the Employer - Any amount
Charged from the Employee
PRESENTED BY : AJAY GARG,
Team AGBians

8. When the motor Car is Owned or hired by the Expenses are borne by
1. Employer : Rs. 1800 (Rs. 2400 If engine
Capacity More then 1600 CC)+ Rs.900
(For Chauffeur)
Employer : Rs. 1800 (Rs.2400 If engine
Capacity More then 1600 CC)+ Rs.900 (For
Chauffeur)
Employee: Rs. 600 (Rs.900 If engine Capacity
More then 1600 CC) + Rs.900 (For Chauffeur)
2. Employee: Actual Amount of
expenditure borne by the employer –
Part of the attributable Office
Expenditure by the employee that is:
Rs. 1800 (Rs. 2400 If engine Capacity
More then 1600 CC)+ Rs.900 (For
Employee: Actual Amount of expenditure
borne by the employer – Part of the
attributable Office Expenditure by the
employee that is: Rs. 1800 (Rs. 2400 If engine
Capacity More then 1600 CC)+ Rs.900 (For
Chauffeur)
CONT..

9. MEDICAL
TREATMENT
MAX. Rs. 15000
P.A.
PRESENTED BY : AJAY GARG,
Team AGBians

10. Amount of Deduction:-
Amount Permitted by
the Reserved by the
Bank
Exclude Travelling
Expenditure if Gross
Total Income More then
Rs.200000
PRESENTED BY : AJAY GARG,
Team AGBians

11. PRESENTED BY : AJAY GARG,
Team AGBians
STATUTORY RECOGNISED UNRECOGNISED
1. EMPLOYER
CONTRIBUTION
EXEMPT EXEMPT UP TO
12% OF SALARY
EXEMPT
2. INTEREST
CREDITED ON
EMPLOYER,s
CONTRIBUTION
EXEMPT
EXEMPT UPTO
9.5% OF SALARY EXEMPT
3. EMPLOYEE,S
CONTRIBUTION
DEDUCTION U/S
80C
DEDUCTION U/S
80C
NO DEDUCTION,
TAXABLE AS SALARY

12. PRESENTED BY : AJAY GARG,
Team AGBians

13. PRESENTED BY : AJAY GARG,
Team AGBians
CONT..

14. CONT..
HOME LOAN
PRINCIPAL
REPAYMENT
STAMP DUTY
AND
REGISTRATION
CHARGES FOR
A HOME
INFRASTRUCTURE
BOND
NABARD
RURAL
BOND
PRESENTED BY : AJAY GARG,
Team AGBians

15. Maximum Limit
If I Invest for Rupees 100000
annually, then it will be
Deducted from the Taxable
Income
PRESENTED BY : AJAY GARG,
Team AGBians
CONT..

16. PRESENTED BY : AJAY GARG,
Team AGBians
CONT..

17. Investment
Exempted
PRESENTED BY : AJAY GARG,
Team AGBians
CONT..

18. INCOME
INTERES
T PRESENTED BY : AJAY GARG,
Team AGBians
CONT..

19. PRESENTED BY : AJAY GARG,
Team AGBians
CONT..

20. MUTUAL
FUND
ELSS
OTHER
MODE
INVESTED
DEDUCTION
ALLOWED
PRESENTED BY : AJAY GARG,
Team AGBians

21. HOME LOAN PRINCIPAL
REPAYMENT
THE PRINCIPAL
PAYMENT OF THE EMI
QUALIFIES FOR
DEDUCTION UNDER 80C
EVEN INTEREST PAYMENT
SHALL ALSO BE ALLOWED
AS DEDUCTION UNDER
SECTION 24 UNDER HOUSE
PROPERTY OF THE INCOME
TAX
PRESENTED BY : AJAY GARG,
Team AGBians

22. AMOUNT INVESTED IN SUCH BONDS
IS ALLOWED AS DEDUCTION
THESE BONDS ARE ISSUED BY THE
INFRASTRUCTURE COMPANIES
PRESENTED BY : AJAY GARG,
Team AGBians

23. NATIONAL
BANK FOR
AGRICULTU
RE &
RURAL
DEVELOPM
ENT
ALLOWED
AS
DEDUCTION
INVESTMENT
PRESENTED BY : AJAY GARG,
Team AGBians

24. CONTRIBUTION TO
PENSION FUND OF
LIC
DEDUCTIBLE
AMOUNT
AMOUNT PAID
OR
DEPOSITED BY
THE ASSESSEE
MAX.
Rs.
100000
PRESENTED BY : AJAY GARG,
Team AGBians

25. CONTRIBUTION TO
PENSION SCHEME OF
CENT. GOVT.
DEDUCTIBLE
AMOUNT
AMOUNT PAID
OR
DEPOSITED BY
THE ASSESSEE
MAX.
10% of
SALARY
PRESENTED BY : AJAY GARG,
Team AGBians

26. Rs. 1,00,000/-
PRESENTED BY : AJAY GARG,
Team AGBians
Section 80CCE

27. INVESTMENT IN EQUITY SAVING SCHEME
DEDUCTIBLE
AMOUNT
AMOUNT PAID
OR
DEPOSITED BY
THE ASSESSEE
50%of
AMOUNT
or Max.
Rs. 25000
PRESENTED BY : AJAY GARG,
Team AGBians

28. PRESENTED BY : AJAY GARG,
Team AGBians
AMOUNT
OF
DEDUCTION
FOR INSURANCE ON
HEALTH OR
PREVENTIVE HEALTH
CHECK UP OF SELF ,
SPOUSE , AND
DEPENDENT
CHILDRENS
MAX..
Rs. 15000
&
20000 FOR
SENIOR

29. AMOUNT OF
DEDUCTION
AMOUNT OF EXPENDITURE
OR
Rs. 40000
WHICH
EVER IS
LESS
PRESENTED BY : AJAY GARG,
Team AGBians

30. DEDUCTION
UNDER 80 E
PRESENTED BY : AJAY GARG,
Team AGBians

31. DEDUCTION 80 G
•100% for certain donations
•50% for Some Other
Donations
•Caution : The Receipt must
have PAN Number
•Preserve this receipt
PRESENTED BY : AJAY GARG,
Team AGBians

32. If Rent paid and HRA not received by
Employee then look for Section 80GG
Condition
2000
Per
Month
PRESENTED BY : AJAY GARG,
Team AGBians
DEDUCTION 80 GG

33. REBATE SECTION 87 A
CONDITION
PRESENTED BY : AJAY GARG,
Team AGBians

34. SELF OCCUPIED PROPERTY
PRESENTED BY : AJAY GARG,
Team AGBians
Interest on Housing Loan
Repayment
Maximum up to 150000/-

35. EXEMPT UPTO MAXIMUM OF
10000/-
PRESENTED BY : AJAY GARG,
Team AGBians