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DEDUCTION UNDER CHAPTER VI –A (Section 80C to 80U)
COMPUTATION OF TOTAL TAXABLE INCOME FOR ASSESSMENT YEAR 2019-2020
PARTICULARS AMOUNT AMOUNT
Income from salary xxx
Income from House Property xxx
Income from Business or Profession xxx
Capital Gains xxx
Income from other sources xxx
Gross Total Income (GTI) xxx
Less: Deduction Under Chapter VI-A(80C to 80U)
I. Section 80C: On Savings and certain Payments
* LIC premium
(a) 10% of Policy Value xxx
(b) Actual Premium xxx
Whichever is least xxx
* Contribution to NSC, NSS, Children’s tuition fees, Repayment
of Principal of Housing loan, Contribution to savings certificate,
Post-office term deposit etc., xxx
Actual xxx
or or
Statutory limit 1,50,000
WEL xxx
II. Section 80CCC: Contribution towards Pension Fund setup
by LIC/UTI or any other insurer:
(a) Actual xxx
or or
(b) Statutory limit 1,50,000
WEL xxx
III. Section 80CCD: Contribution towards Pension Fund setup of
central Government Employee (or National Pension Scheme)
(a)Actual xxx
or or
(b) Statutory limit 2,00,000
WEL xxx
IV. Section 80CCG: Investment in Eligible Equity Shares (GTI
must not exceed Rs.12,00,000)
(a) 50% of the Investment xxx
or or
(b)Statutory limit 25,000
WEL xxx
V. Section 80D: Contribution towards Health Insurance Scheme
(Medical Insurance Premium):
(a) Actual xxx
or or
(b) Statutory limit * xxx
WEL xxx
Note: *For self, children, spouse 25000 +Also for parents 25000 =500000
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VI. Section 80DD: Maintenance of Physically Challenged
Spouse or Family Members:
(a) Rs.75,000/- for general disability xxx
(b) Rs.1,25,000/- for severe disability
VII. Section 80DDB: Medical Treatment for Self/family
members for “specified diseases”:
(a) Actual xxx
or or
(b) Rs.40000 * 40,000
[*note: for senior citizen – Rs.1,00,000] WEL Xxx
VIII. Section 80E: Payment of Interest on loan taken for
education. [for the first 8 years] 100% xxx
IX. Section 80EE: Payment of Interest on loan taken for
Residential Property (construction/purchase):
(a) Actual xxx
or or
(b) Statutory limit 50,000
(Note: Not applicable for commercial property) WEL xxx
X. Section 80GGA: Donation to Rural Development Programme
(or) Scientific Research: 100% xxx
XI. Section 80GGC: Donation to Political Parties/Electoral Trust 100% xxx
XII. Section 80QQB: Royalty Income from writing of books:
(a) Actual xxx
or or
(b) Statutory limit 3,00,000
WEL xxx
XIII. Section 80 RRB: Royalty received from patent rights:
(a) Actual xxx
or or
(b) Statutory limit 3,00,000
WEL xxx
XIV. Section 80TTA: Interest on Savings Bank A/c:
(a) Actual xxx
or or
(b) Statutory limit 10,000
WEL xxx
XV. Section 80TTB: Interest on ALL DEPOSITS OF SENIOR
CITIZENS (Above 60years)
(a) Actual xxx
or or
(b) Statutory limit 50,000
WEL xxx
XV. Section 80U: Income of Physically Challenged (or)
mentally retarded assesse:
(a) Rs.75,000/- for general disability xxx
(b)Rs.1,25,000/- for severe disability
Adjusted Gross Total Income (AGTI) xxx
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Adjusted Gross Total Income (AGTI) xxx
Less: Deduction Under Section 80G:
[A] On Deduction to:
Prime Minister National Drought Relief Fund (PMNDRF) xxx
Jawaharlal Nehru Memorial Fund (JNMF) xxx
Indragandhi Memorial Fund (IGMF) xxx
Rajivgandhi Memorial Fund (RGMF)
xxx
[B] On Deduction to Other Notified Bonds- @100% @50% xxx
[C] On Deduction to School, Colleges or Trust: xxx
(a) Actual xxx
Or or
(b) 10% of (AGTI –LTCG – STCG on sale of xxx
listed shares – Casual Incomes – Exempt Income)
[*Note: @100% for Family planning Fund] WEL @50%* xxx
Less: Deduction Under Section 80GG: House Rent Paid by Non-
specified Employee:
xxx
(a) 25% of AGTI
xxx
(b) Rs.6,000 p.m.
xxx
(c)Rent Paid – 10% of AGTI
WEL xxx
TAXABLE INCOME (or) NET TAXABLE INCOME XXXX
Tax liability: xxx
COMPUTATION OF TAX PARTICULARS (OR) TAX LIABILITY
For the Assessment Year 2019-2020
PARTICULARS Amount % of Tax
Tax
For Casual Income xxx 30% xxx
For LTCG xxx 20% xxx
For STCG xxx 15% xxx
On Balance:
Tax on Income xxx
Less: Rebate u/s 87(A) (When TI is less than Rs.3,50,000) Upto Rs.2,500
Add: Education Cess @4% on tax on income xxx
Less: Advance Tax or TDS (If any) xxx
Add: 1.Surcharge @10% when TI is 50 Lakhs to 1 Crore xxx
2.Surcharge @15% when TI is 1 Crore and above
TAX PAYABLE xxx
Thank you!! All the Best!
