i want to know about maximum deduction in chapter VI-A?not in chapter VI(section 80 C)?i got tax calculator from net in that under chapter VI-A deduction their is one field 'any other deduction'. i want to know about maximum possible deduction for that field and total deduction for chapter VI-Aplease help it's urgentthanks in advance!!!!!!!!!!. Created by Mahadev B. business-finance-en - taxes-en - india-en

maximum deduction under chapter VI-A in salary?

May 2021 4 165 Report

maximum deduction under chapter VI-A in salary?

i want to know about maximum deduction in chapter VI-A?

not in chapter VI(section 80 C)?

i got tax calculator from net in that under chapter VI-A deduction their is one field 'any other deduction'. i want to know about maximum possible deduction for that field and total deduction for chapter VI-A

please help

it's urgent

thanks in advance!!!!!!!!!!

Business & Finance / Taxes / India

Anonymous

Verified answer

There are more than one areas in VI-A - overall there is NO limit, but sections do have them:

Medical Insurance Premium - amounting to 35000 inclusive of Parents

Expense for disabled dependents - 50000 or 75000 if deemed severe

For specified diseases (Rule 11DD) -40000 or 60000 if senior citizen in included

No limit on higher education interest repayment and those on donations

50000 if disabled and 75000 if deemed severe (for Self)

Rent deduction if HRA not received - Minimum of (Rent - 0.1*Capital Gains Income), (0.25* Capital Gains Income), 24000.

Use the calculator at http://www.freewebs.com/rajanpras/itcalcfy2009.htm for this calculation - use the "Investments" sheet

Anonymous

Yes interest on NSC is allowed for deduction under chapter VI A. But before claiming deduction under said chapter it must be ensure that said NSC interest is included in Income from Other Sources also.