Section

Assessee

Qualifying Payments/Income

Conditions/Incidents

  Qualifying Amt.

 Quantum

A. Important Deductions from Gross Total Income

80AC

Assessee

—

Deduction u/s. 80-IA/80-IAB/80-IB/80-IC or 80-ID shall be allowed only if returns are furnished within the time limit u/s. 139(1) w.e.f. 1-4-2008

80C(with effect from A.Y. 2006-07)

Individual/HUF

1. LIP; (restricted to 20% of capital
sum assured).

2. (a) PF, (b) Superannuation Fund, (c) PPF; (d) RPF.

3. Deposits in P.O. Savings Bank (CTD).

4. ULIP of UTI or LIC Mutual
Fund’s Dhanraksha 1989.

5. Subscriptions to NSC VIII Issues.

6. Deposits with National Housing
Bank.

7. Housing Loan repayments.

8. Subscription to schemes of PSUs providing long-term finance for housing.

9. Notified annuity plan of LIC or of
any other approved insurer.

10. Units of Mutual Fund or UTI.

11. Notified Pension Fund or Mutual
Fund.

12. Tuition Fees (not donation or
development fees) towards full time education of any 2 Children
of an Individual paid to University, College, School, etc. in India.

13.Investments in shares or debentures
of approved public company
exclusively engaged in infrastructure
facility or power sector.

14.Investments in units of notified
mutual fund investing in approved
public cos. as in 13 above.

15. Term Deposit with scheduled bank.

16. Deposit in Senior Citizen Savings
Scheme 2004 and Post Office Time
Deposit account

1. LIP/PPF/ULIP of  self, spouse, children (including minors) or members of HUF.

2. PF contribution not to exceed 1/5th of salary.

3. Land cost for residential house is also qualified.

4. House should not be transferred for 5 years.

5. Term Deposit mentioned at Point 15 would be for a fixed period of not less than five years and as per scheme to be notified by Central Government.

6. Shares and Debentures mentioned at Point Nos. 12 and 13 in previous column will have lock-in-period of three years.

7. No exemption should be claimed in respect of same investment u/s. 54EA/54EB/54EC.

8. Sum paid/invested need not be out of current year's chargeable income.

9. Clauses (i) to (vii), Clauses (xii) to (xiii), Clauses (xiiic) to (xiva) & Clause (xv) of sub-section (2) of section 88 shall be eligible for deduction under corresponding provision of this section.

Termination of insurance contract by notice to this effect or contract ceases due to failure to pay premium by not reviving insurance contract

(a) in case of single premium policy within 2 yrs. after the date of commencement of insurance

(b) in any other case before premium has been paid for 2 yrs.w.e.f. 1-4-2007 then :–

(I) no deduction shall be allowed to the assessee under sub-sec.

(1) with reference to any sum referred in clause (i), (x), (xi) & (xviii) of sub-sec (2), paid in such P.Y.

(II) the aggregate amt. of the deduction of the income so allowed in respect of P.Y. or yrs. preceding such P.Y. shall be deemed to be the income of the assessee in the P.Y. and shall be liable to tax in the A.Y. relevant to such P.Y. terminates his participation in any ULIP referred in clauses (x) & (xi) of sub-sec. (2), by notice to that effect or where he ceases to participate by reason of failure to pay any contribution, by not reviving his participation, before contribution in respect of such participation have been paid for 5 yrs. w.e.f. 1-4-2007 then:–

(i) no deduction shall be allowed to the assessee under sub-sec.(1) with reference to any sum referred in clauses (i), (x), (xi) & (xviii) of sub-sec. (2), paid in such P.Y.

(ii) the aggregate amt. of the deduction of the income so allowed in respect of P.Y. or yrs. preceding such P.Y. shall be deemed to be the income of the assessee in the P.Y. and shall be liable to tax in the A.Y. relevant to such P.Y

If any equity, shares, or debenture are sold or transferred by any asseesee to any person at any time within 3 yrs. from date of acquisition the amt of deduction in respect of sale price so allowed shall be deemed to be income of assessee in P.Y. and shall be liable to pay tax in A.Y. relevant to such P.Y. w.e.f. 2007

If the assessee withdraws the amount from such accounts within expiry of 5 years from the date of its deposit, the amount withdrawn shall be deemed to be the income of the assessee in the previous year in which the amount is withdrawn except in the case of death when the said amount is received by the nominee or the legal heirs.
Note:- Effective from A.Y. 2008-09

Rs. 100,000

100%  of  the amount invested / paid or Rs. 100,000 whichever is less.

Note : The total deduction that an assessee can claim under sections 80C, 80CCC and 80CCD would be restricted to
Rs. 100,000 per annum as per the provisions of section 80CCE








 

80CCC

Individual

Payment made out of taxable income to
LIC or to any other approved insurer under approved Pension Plan.

1. Rebate is allowable u/s. 88 up to A.Y. 2005-06.

2. Deduction is allowable u/s. 80C w.e.f. A.Y. 2006-07

3. Pension received or amount withdrawn by the assessee or his nomineenis taxable in the year of receipt.

Rs. 10,000
(For A.Y. 2006-07)
 

Rs.
10,000
(From A.Y. 2007-08)

Rs. 10,000
(For A.Y. 2006-07)

Least of amount paid or Rs. 1,00,000
(refer note in 80C above)

80CCD

 Individual who is a Central
Government employee employed
on or after 1-1-2004
 

Deduction allowable to a Government
for pension fund will also be allowed to any other employee if his contribution in pension scheme does not
employee, exceed 10% of his salary w.e.f. 1-4-2008

1. Rebate is allowable u/s. 88 up to A.Y. 2005-06.

2. Deduction is allowable u/s. 80C w.e.f. A.Y. 2006-07

3. Pension received or amount withdrawn by the assessee or his nominee is taxable in the year of receipt

—

Amount contributed by the assessee and/or the Central Government as does not exceed in each case 10% of his salary (including D.A. but excluding all other allowances and perks). (refer note in 80C above)

80D

Individual/HUF

Premia paid out of taxable income to
approved scheme of GIC (Mediclaim,
Bhavishya Arogya) or any other approved insurer.

1. Insurance on the health of the assessee, spouse, dependent parents/children, members of HUF. 

2. The amount should be paid by any mode
other than cash w.e.f. 1-4-2008

Rs. 15,000
Rs. 20,000
in case of
senior citizen

100%  of  the  premia  paid  or
Rs. 15,000  (Rs. 20,000 for senior
citizen) whichever is less.

Additional deduction of
Rs. 15,000/- on health insurance premium paid for his/her parent/parents.(Rs. 20,000 in case of   senior citizen
Note: Effective from A.Y. 2009-10
 

—

Rs. 50,000 for ordinary disability
Rs. 75,000 for severe disability

Rs. 1,00,000 for severe disability
w.e.f. 1-4-2010

80DD

Individual/HUF (Resident)

1. Expenses incurred for Medical
Treatment (including Nursing),
Training & Rehabilitation of a dependent with severe/
ordinary disability).

2. Amount paid/deposited to any scheme framed by LIC/UTI approved insurer/administrator
(now known as Specified Company),
for payment of annuity or lump sum amount for the benefit of dependent
person with disability.
 

1. For meaning of the word ‘disability’ reference is to be made to Sec. 2(i) of the Persons with Disabilities (Equal Opportunities, Protection of Rights and Full Participation) Act, 1995 (PDEOPRFP), and sections 2(a), (c) and (h) of the National Trust for Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation & Multiple Disabilities Act, 1999 (NTWPACPMR MD Act).

Disabilities covered are blindness, low vision, leprosy-cured, hearing impairment, locomotor disability, autism, cerebral palsy, multiple disability, mental retardation and mental illness. (Defined in Expln. (f) to sec. 80DD)

2. Under PDEOPRFP Act, a person with disability means a person suffering from not less than 40% of any disability and severe disability means 80% of one or more of such disability.

3. A certificate in prescribed form and manner from medical authority as defined in Expln. (e) to sec. 80DD, stating the extent of disability and the validity of period, is required to be submitted with the Return of Income. On expiry of the certificate a reassessment of the condition of disability is required to be done.

4. Nomination can be either in favour of disabled dependent or any other person or a trust in case of investment in scheme.

5. If the disabled dependent predeceases the individual or the member of HUF in whose name subscription is made then the entire amount paid/deposited in scheme will be treated as taxable income in the year of receipt.

6. Handicapped dependent has been defined in Expln. (b) to sec. 80DD.

7. “Person with disability” is defined in Expln. (f) and “Person with severe disability” is defined in Expln. (g) to sec. 80DD.

8. Medical authority is defined in Expln. (c) to section 80DD.

—
 

Rs. 50,000 for ordinary disability Rs. 1,00,000 for severe disability

80DDB

Individual/HUF (Resident)

Amount actually paid for medical
treatment of such disease or ailments as may be specifed.

1. Deduction available for expenses on self, dependent  or a member of  HUF.

2. Assessee is required to furnish a certificate in prescribed form from a neurologist, an oncologist, a urologist, a haematologist, an immunologist or such other specialist as may be prescribed, working in a Government Hospital along with the return of income.
3. Refer to Explanation to Section 80DDB for definitions of relevant terms.

Rs. 40,000
(Rs. 60,000 for senior citizen)

1) Least of amount paid or
Rs. 40,000 (Rs. 60,000 for
senior citizen)

2) Amount received from an insurer of reimbursed by
employer for the medical
treatment is to be reduced.

80E

Individual

Repayment (out of taxable income) of
interest on loan taken for pursuing
higher education.

1. The loan should be from an approved charitable institution notified u/s. 10(23C)/referred to in S. 80G(2)(a)/a banking co./notified financial institution.

2. Higher education includes any course pursued after passing Senior Secondary Examination or recognised equivalent examination

3. Available for a maximum of 7 A.Ys. after initial assessment year in which the loan is taken or interest is paid in full, whichever is earlier.

4. This deduction for interest on loan taken for higher education is allowed for the individual and also relatives (spouse and children) of the individual w.e.f. 1-4-2008

—

The entire amount of interest is deductible without any limit

80G

Any Assessee
[except u/s.
80G (2)(c)]

Donations for charitable purposes
specified in S. 80G(2)  

1. Donations should not be in kind.

2. If paid out of another year’s income or out of income not includible in the assessment of the current year the deduction still available (Lt. F. No. 45/313/66-ITJ(61) dt. 2-12-1966.

Amount of Dona-tions, not exceeding10% of GTI (As reduced by other deductions).

In certain cases this limit does not apply.

Please see S. 80G(4)
 

1) 50% generally; and

2) 100% in cases of  PM’s
Relief  Funds, Gujarat
Earthquake Relief Funds,
etc. [Ref. S. 80G(1)(i)]

80GG

Any Assessee [other than having
any income falling u/s. 10(13A);
i.e., House Rent Allowance]

Expenditure incurred towards payment
of rent in respect of furnished or unfurnished accommodation occupied for his own residence.
 

1. This section does not apply where residential accommodation is owned by assessee, his spouse, minor child or by HUF at a place where assessee ordinarily resides or carries on business or profession.

2. This section does not apply where the assessee owns residential accommodation at any other place which is in occupation of the assessee.

3. Assessee to submit a declaration in Form No. 10BA with the Return of Income.

4. Ten per cent of his total income means assessee's total income before allowing deduction for any expenditure under this section

Expenditure in excess of 10% his total income.

Not more than

i) Rs. 2,000/- per  of month or

ii) 25% of the total income whichever is less

80GGA

Any Assessee

Donations for Scientific Research or
Research in Social Sciences or Rural
Development or Conservation of
Natural Resources or to National Urban
Poverty Eradication Fund or for eligible
project/scheme.
Scientific research association,
university, college or other institution
Programme of rural development
Public sector company, or to local authority or to an association or insti-tution for carrying out eligible scheme
or project referred in sec 35AC

1. Assessee should not have income under the head ‘Profits and Gains of Business or Profession’.

2. Donee should be approved u/s. 35 or 35CCA or 35AC.
The deduction to which the assessee is entitled in respect of scientific research association, university, college or other institution shall not be denied merely on the ground that after payment of such sum the approval granted to the association has been with drawn. w.e.f. 1-4-2007

The deduction to which the assessee is entitled in respect of programme of rural development shall not be denied merely on the ground that after payment of such sum the approval to the programme has been withdrawn. w.e.f. 1-4-2007

The deduction to which the assessee is entitled in respect of programme of rural development shall not be denied merely on the ground that after payment of such sum the eligibility has been withdrawn. w.e.f. 1-4-2007

Amount of
Donations
 

100%

80GGB

Indian Company

Any sum contributed to any political
party

1. For the meaning of term ‘contribute’, refer to Explanation to section 80GGB

2. For the meaning of term ‘political party’, refer to Explanation to section 80GGC

Amount of
Contribution

100%

80GGC
(w.e.f. 22-9-2003)

Any Assessee
[Except local authority and artificial juridical person wholly or partly funded by the Government] 

— do — 

1. For the meaning of term 'political party', refer to Explanation to section 80GGC

Amount of
Contribution

100%

Section

Eligible undertaking/enterprises

Date of Commencement

Conditions/Incidents

Amount of Deduction and Period

80-IA

1 Infrastructure enterprise : business of (i) developing, (ii) maintaining
and operating, or (iii) developing, maintaining and operating new
infrastructure facility — i.e., road, bridge, airport, port, waterways,
rail systems, highway project, water  treatment/water supply/irrigation/
sanitation/sewerage/solid waste management systems.

After 1.4.1995

infrastructure facility, starts providing
Telecommunication Service or Developing
an Industrial Park or Developing a Special
Economic Zone or Generates Power or
commences Transmission or Distribution of
Power or undertakes substantial renovation
and modernisation of the existing trans-
mission or distribution lines, now it will also
be available to an undertaking which lays
and begins to operate cross country
natural gas distribution network w.e.f.
from 1-4-2008; i.e., A.Y. 2008-09
 

100% for 10 consecutive A.Ys. out of 15 A.Ys.. In case of road, highway project water supply project, port, etc. 100% for consecutive A.Ys. out of 20 A.Ys.

2 Telecommunication undertakings : basic or cellular, radio paging,
domestic satellite service or network of trunking and electronic data
interchange services, broadband network & internet services.

1.4.1995 to 31.3.2005

The benefit of section 80-IA shall not be available to an amalgamated or demerged entity after 1-4-2007.

100% for first 5 A.Ys., 30% for next
5 years. Any 10 consecutive A.Ys.
out of first 15 years.
 

3 Industrial parks including Special Economic Zone : undertakings that
a. develops;
b. develops and operates; or
c. maintains and operates a notified industrial park.  

1.4.1997 to 31.3.2011

80-IA benefit will not be available to a person who executes a works contract. w.e.f. 1-4-2000

100% for 10 consecutive A.Ys. out of 15 years

4 Power undertakings :
– undertakings engaged in
a. generation; or
b. generation and distribution of power

1.4.1993 to 31.3.2011

100% for 10 consecutive A.Ys. out of 15 years.

– undertakings engaged in transmission or distribution
(only profits derived from laying of such network of new lines)

– undertakes substantial renovation and modernization
(i.e., increase in book value of plant & machinery by 50% as
compared to book value as on 1-4-2004)  of existing transmission
or distribution lines as defined in Explanation to sec. 80-1A(4)(iv)(c)

1.4.1999 to
31.3.2011

1.4.2004 to
31.3.2011

5 Undertaking owned by an Indian company and set up for reconstruction or
revival of a power generating plant:
a) Indian company should be formed before
30-11-2005 and notified by Cent. Govt. before 31-12-2005
b) Undertaking should begin to generate or transmit or distribute power before
31-3-2007
Note : 1) All the assessees claiming benefit under 80-IA is required
(including companies and co-operative societies) to furnish separate
Audit Report in Form No. 10CCB u/s 80-IA w.e.f. A.Y. 2003-04
2) The assessee needs to comply with the conditions stipulated in sub-sections
(3), (4) and (7) of section 80-1A.
3) Explanation below sub-section (13) is substituted retrospectively with
effect from 1-4-2000 to clarify that the section shall not apply to business in the
nature of works contract awarded by any person including the Central &
State Governments executed by the undertaking or enterprises.

Upto 31.3.2011

Upto  A. Y. 2009-10

6 Any undertaking carrying on the business of laying and operating a cross
country natural gas distribution network, including pipelines and storage
facilities being an integral past of such net work which has started or starts
operation on or after 1-4-2007.

Note : 1) All the assessees claiming benefit under 80-IA is required
(including companies and co-operative societies) to furnish separate
Audit Report in Form No. 10CCB u/s 80-IA w.e.f. A.Y. 2003-04

2) The assessee needs to comply with the conditions stipulated in
sub-sections (3), (4) and (7) of section 80-1A.

3) Explanation below sub-section (13) is substituted retrospectively
with effect from 1-4-2000 to clarify that the section shall not apply to
business in the nature of works contract awarded by any person
including the Central & State Governments executed by the
undertaking or enterprises.

Up to
A.Y. 2009-10

80-IB

1 Industrial Undertakings :

a) other than clause (b), (c) & (d)

1-4-1995 to
31-3-2002

b) SSI U/Cold Storage other than (c) & (d) below

1.4.1991 to 31.3.1995

25% (30% for Cos.)

First 10 A.Ys.

[12 A.Ys. if assessee is
a co-op. society]

c) i. Backward State (Eighth Schedule) (In the case
of State of Jammu & Kashmir, the date of
commencement has been extended to 31-3-2007)
 

1.4.1993 to 31.3.2004

100%
25%
(30% for Cos.)

First 5 A.Ys.
Next 5 A.Ys.

[12 A.Ys. if assessee is a
 co-op. society]

ii. Notified Industries in N.E. Region

1.4.1993 to 31.3.2004

100%

First 10 A.Ys.

d) Backward District — Category ‘A’

1.10.1994 to 31.3.2004

100%
25%
(30% for Cos.)

First 5 A.Ys.
Next 5 A.Ys.

[12 A.Ys. if assessee is a
co-op. society]

— Category ‘B’

1.10.1994 to 31.3.2004

100%
25%
(30% for Cos.)

First 3 A.Ys.
Next 5 A.Ys.

[12 A.Ys. if assessee is a
co-op. society]

2 Hotels (approved by prescribed authority) :

— Hilly Area/Rural Area/Place of Pilgrimage/other notified areas

1.4.1990 to 31.3.1994
or 1.4.1997 to
31.3.2001

50%

First 10 A.Ys.

—  Other places

1.4.1991 to 31.3.1995
or 1.4.1997 to
31.3.2001

30%

First 10 A.Ys.

3 Undertaking developing & building housing projects
Conditions :
i) Minimum plot area : one acre
ii) Where the buyer of the residential unit is not an individual, not
more than one unit in the project shall be allotted to such buyer and
where the buyer is an individual, no unit in the project shall be allotted
to the spouse, minor children or (Applicable from A.Y. 2010-11
iii) Residential unit has maximum built up area of 1,000
sq. ft. in  Delhi/Mumbai; 1,500 sq. ft. in other areas. Built up area of
shops/other commercial establishments not to exceed 5% of aggregate
built up area or 2,000 sq. ft., whichever is less.
iv) Construction should be completed within 4 years from the end of F.Y.
in which the project is approved, or by 31-3-2008 where project is
approved before 1-4-2004.
An Explanation has been inserted with retrospective effect from 1st
April 2001 to clarify that deduction shall not be available to person
executing the project as a works contract

If approved by
Local Authority
before 31.3.2007

100%

Project
wise

1. The assessee has to comply with the conditions stipulated
in sub-section (10).

2. Also refer to the
definitions of relevant terms given in sub-section (10)

4 Undertaking engaged in integrated business of handling, storage and
transportation of foodgrains or the business of processing, preservation
of packaging of fruits and vegetables

On or after 
1.4.2001 
 

100%
25%
(30% for Cos.)

First 5. A.Ys.
Next 5 A.Ys.  

5 Business of building, owning and operating a multiplex theatre other
than in Mumbai, Delhi, Kolkata or Chennai.

01.04.2002 to
31.03.2005

50%

First 5 A.Ys.

6 Business of building owning and operating a convention centre.

01.04.2002 to
31.03.2005

50% 

First 5 A.Ys.

7 Undertaking engaged in setting up and operating a cold
storage facility for agricultural produce

01.04.1999 to
31.03.2004  

100%
25%
(30% for Cos.)

First 5 A.Ys.  Next 5 A.Ys.

[12 A.Ys. in case of co-op. society]

8 Undertaking engaged in operating and maintaining a hospital
with at least 100 beds in a rural area.

Hospital constructed between 1.10.2004 and 31.3.2008

100%

First 5 A.Ys.

The assessee has to comply with conditions stipulated in sub-section (11B)

Note 1 : Deduction u/s 80-IB shall not be allowed w.e.f.
A.Y. 2004-05 to those undertaking covered u/s 80-IC

Note 2 : No deduction u/s 80-IB (4) will be available to an industrial
undertaking set up in the State of Jammu & Kashmir, which is engaged
in the manufacture or production of any item listed in Part C of
the Thirteenth Schedule (“the Negative list”)

9 An Industrial undertaking engaged in refining of oil

Starts refining before 01.04.2009

100% Effective
from A.Y. 2008-09

7 consecutive A.Y.s including the initial A.Y.

10 Hospitals located in any place outside the urban agglomerations
[80-IB(11C)]

Constructed & started between 01.04.2008  and 31.03.2013

100% Effective from A.Y. 2009-10

5 year tax holiday

To new Hospitals constructed and has started/starts functioning between 01-04-2008 and 31-03-2013, especially in
tier-2 and tier-3

Industrial undertaking other than infrastructure & development undertaking

In case of industrial undertaking in State of J & K, the provision of the 1st provision shall have effect as if for the figures, letters & words 31/3/07 has been substituted by the figures, letters & words 31/03/12

80-IAB

Undertaking which is engaged in development of Special Economic
Zones (SEZ)

Notes:

i) Where a Developer transfers the operation and maintenance of such
SEZ to another Developer, the deduction under sub-section (1) shall
be allowed to the latter for the remaining period in the ten consecutive
assessment years

ii) Provisions of sub-sections (5), (7) to (12) of section 80-IA shall
apply to the SEZ.

iii) “Developer” and “Special Economic Zone” shall have meanings
assigned to them in clauses (g) and (za) of section 2 of SEZ Act, 2005

SEZ notified on or after 1-4-2005 under the SEZ Act, 2005

100%

For 10 Conse-cutive A.Ys. out of 15 years

80-IC

1 Undertaking which begins to manufacture or manufactures and
undertakes substantial expansion of article or things not being article
or thing specified in Thirteenth Schedule in Export Processing Zone or
Integrated Infrastructure Development Centre or  Industrial Growth
Centre or Industrial Park or Software Technology Park, or Industrial
Area or Theme Park as notified
by board and Central Government in :

a) State of Sikkim

23.12.2002 - 01.04.2007

100%

First 10 A.Ys.

b) States of Himachal Pradesh & Uttaranchal

07.01.2003 - 01.04.2012

100%
25%  
(30% for Cos.)

First 5 A.Ys.
Next 5 A.Ys.

2 Undertaking which begins to manufacture or commences operation
or manufactures and undertakes substantial expansion article or things
mentioned in Fourteenth Schedule:

a) State of Sikkim

23.12.2002 - 01.04.2007

100%

First 10 A.Ys.

b) States of Himachal Pradesh & Uttaranchal

07.01.2003 - 01.04.2012

100% 
25%
(30% for Cos.)

First 5 A.Ys.
Next 5 A.Ys.  

c) North-Eastern States

24.12.1997 - 01.04.2007

100%

First 10 A.Ys.

Note :
i) The Assessee must fulfil other conditions prescribed
u/s 80-IA, like Audit Report, etc.

ii) No deduction under any other section in Chapter VIA or
10A or 10B.

iii) Period of 10 A.Ys. shall include period deduction availed
u/s 80-IB/10C

80 ID New

New hotels & convention centre

Deduction under sub-section (1) shall be available only if
(i) not formed by splitting up or reconstruction of business already in existence
(ii) not formed by transfer of new business of building previously used as hotel or convention centre
(iii) transfer of new business of machinery or plant previously used for any purpose
(iv) report of audit in such form and containing such particulars as may be prescribed (2) no deduction shall be allowed u/s. 10AA & Chapter VIA

Started functioning between 1-4-2007 and 31-3-2010 in the National Capital Territory of Delhi and Districts of Faridabad, Gurgaon Gautambudh Nagar
and Ghaziabad

100%

For First 5 years

Deduction is extended to new two star, three star
or four star hotels located in specified districts having
UNESCO-declared 'World Heritage Sites',

Constructed and has started/starts functioning between 01.04.2008 and 31.03.2013

—

100%

Five year tax holiday  

80P Co-op- erative Society*

1 Profits arising out of banking; cottage
industries;  marketing, processing, purchase
related to agriculture; fishing and allied
activities

—

100%

2 Primary Co-operative Society engaged in supplying
milk, oil seeds, fruits or vegetables grown by its
member to specified bodies

—

100%

3 (a) Consumer Co-operative Society
  (b) Others

Maximum Rs. 1,00,000
Maximum Rs. 50,000  

4 Income by way of interest or dividends derived
from investments and other Co-operative Societies

100%

5 Income derived from letting godowns and warehouses
for storage, processing or marketing of commodities

100%

* Excluding all co-operative banks other than a primary
agricultural credit society or a primary co-operative
agricultural and rural development bank.

Section

Assessee

Qualifying Payments/Income

Conditions/Incidents

 Deductions

Qualifying Amt.

Quantum

80JJA

Any
Assessee

Profits and gains derived from
business of collecting and processing or treating of
bio-degradable waste for generating power or producing
bio-fertilizers, bio-pesticides or other biological agents or for
producing bio-gas making pellets or briquettes for fuel or organic manure.

—

Such profits and gains

Whole of such profits and gains
for first 5 consecutive A.Ys.

80JJAA

Indian Company

Additional wages paid to new regular workmen employed during the previous year.

1 Total income includes profits & gains derived from any industrial undertaking engaged in production of article or thing.

2 The industrial undertaking is not formed by reconstruction or splitting up of an existing one or amalgamation with another industrial undertaking.

3 Auditors’ report in Form 10DA to be furnished.
4 For definition of additional wages, regular workman etc. refer to Explanation to section 80JJAA

Such additional wages

30% of additional wages for first
3 A.Ys. including the year in which such employment
is provided.

80QQB(w.e.f. A.Y. 2004-05)

Resident Individual

a. Lump sum consideration for assignment or grant of any interest in copyright of any book being a work of literary, artistic or scientific nature

1 Income earned outside India should be brought into India within 6 months of the end of the P.Y or the time extended by RBI.

Lump sum consi-
deration in lieu of all rights Royalties or Copyright Fees

a) 100% of such consideration or Rs. 3 lakhs whichever is less.

b. Royalty or copyright fees in respect of such book

2 Certificate in Form 10CCD should be furnished.

3 In respect of income earned from source outside India, Certificate in Form No. 10H should be furnished.

b) 100% of such royalty or fees not in excess of 15% of the gross sale
value of books sold in the P.Y. or Rs. 3 lakhs whichever is less

80RRB

(a) Resident
Individual

(b) Patentee

Income by way of Royalty in respect of patents

1 Patents should have been registered on or after 01.04.2003 under Patent’s Act, 1970

2 Income earned outside India should be brought into India within 6 months of the end of the P.Y or the time extended by RBI

3 Certificate in prescribed form should be furnished. Form 10CCE if in India, Form 10H outside India.

4 Various expressions/terms used have been defined in Explanation to Section 80RRB.

5 Amount shall not exceed the amount of royalty under terms and conditions of a licence settled by controller under the Act.

Income by way
of Royalty

Whole of such income or Rs. 3 lakhs whichever is less

80U

Resident Individual

Income of a person, with disability as defined

Certificate from Medical Authority in the form and manner prescribed (refer section 80DD)

Rs. 50,000
Rs. 75,000 (w.e.f. A.Y. 2010-11, Rs. 1,00,000)

Ordinary Disability
Severe Disability (Refer to
Explanation to section 80U
for definitions of various terms
and expressions used).

B. REBATES

88E

All assessees

Business income arising from Taxable Securities Transaction

Proof of payment of Securities Transaction Tax (STT) in the prescribed form to be furnised with return

Amt of STT paid

Rebate not to exceed the income tax calculated at the average rate of tax

Section

Assessee

Taxable Event

Year in which Taxable

Amount Taxable

Remarks

C. TAXABILITY OF ITEMS ALLOWED AS DEDUCTIONS IN EARLIER YEARS

80CCA

Individual 
HUF
 

– Withdrawal of principal and/or interest on NSS Account.

P.Y. in which
withdrawn.

Whole of the amount withdrawn/received.

1 Amount paid after the death of an individual to the legal heirs is not taxable. (Cir. No. 532 - dt. 17.3.1989)

– Bonus received on annuity plans of LIC notified u/s. 80CCA.

P.Y. in which
received.

— do —

2 Repayment of NSS is subject to TDS u/s. 194EE except when made to the heirs of the assessee

– Annuity or surrender value received in respect of such notified annuities.

— do —

— do —

—

80CCB

Individual
HUF

– Receipt of whole or part of amount invested either on repurchase of notified units or on termination of the plan.

P.Y. in which amount is so received.

To the extent of original investment.

1 Deduction amount not exceeding
Rs. 10,000/-.

Amount received in excess of original investment is taxable as capital gains  u/s. 45(6).

2 Amount is subject to TDS u/s. 194F @ 20%