Category Details Deductions Allowed
Deduction under Sec 80TTA
Bank Interest Interest from savings bank up to ₹10,000 (for individuals
(Savings A/c) accounts ≤60 years & HUF)
Interest on Fixed
Deposits (FDs), RDs, Senior Citizens: Deduction up
Post Office deposit Fully taxable at slab rates to ₹50,000 under Sec 80TTB
Interest on If not taxed under PGBP → taxable Actual related expenses
Securities under IFOS allowed
Deduction: Lower of (i)
₹15,000 (₹25,000 in new
Pension received by family after regime), or (ii) 1/3rd of
Family Pension death of employee pension
Lottery, Crossword
Puzzles, Card
Games, Gambling,
Horse Races Winnings of any form No expense allowed
Dividend from shares, mutual funds Interest expense allowed up to
Dividends etc. 20% of dividend income
Cash > ₹50,000 taxable; Gifts in
Gifts (Sec 56(2)(vi)) kind > ₹50,000 taxable at FMV No deduction
Rental Income –
Plant, Machinery,
Furniture, If separable from business Repairs, insurance,
Composite letting premises → IFOS depreciation allowed
Keyman Insurance Amount including bonus (not taxed
Policy under PGBP) None
Interest on
Compensation /
Enhanced Interest received on delayed
Compensation compensation 50% deduction allowed
Compensation for
Termination of
Employment Any compensation received None specific
Interest on Income
Tax Refund Paid by IT Dept on excess tax paid None
Employer
Contributions not
deposited (EPF,
Superannuation, Contributions received from
ESI) employees but not deposited None
Expenses Not Allowed as Deductions
● Expenses for earning casual income (lottery, gambling, horse races, etc.).
● Interest on dividend income beyond 20% of dividend received.
● Personal expenses of the taxpayer.
● Interest paid outside India without TDS deduction.
DEDUCTIONS
Eligible Deduction / Key Conditions /
Section Expenditure Deduction Limit Notes
Life insurance premium,
Deferred annuity, PF
(Employee/Recognised),
PPF, Superannuation fund,
Sukanya Samriddhi, Notified
securities, ULIP, Tuition fees
(max 2 children), House
property (loan repayment),
LIC annuity, ELSS, 5-yr bank Up to ₹1,50,000
FD, Senior Citizen Savings (combined limit
Scheme, NPS Tier-II (for with 80CCC & Available to
80C Govt employees) 80CCD(1)) individuals & HUF
Contribution to certain Subject to overall
Pension Funds of LIC/other Up to ₹1,50,000 ceiling under Sec
80CCC insurers (combined) 80CCE
Lower of (i)
₹1,50,000 or (ii)
10% of salary
(14% for Govt
80CCD( Employee/self contribution to employees) / 20%
1) NPS of GTI (for Part of 80CCE limit
non-employees)
Over and above
80CCE limit;
available even for
deposits in minor’s
80CCD( account (from AY
1B) Additional NPS contribution ₹50,000 extra 2026-27)
Up to 10% (private
employees) or
14% (Govt
80CCD( Employer’s contribution to employees) of Not part of 80CCE
2) NPS salary limit
Contribution to Agniveer
Corpus Fund (self + Govt 100% of Entire amount
80CCH contribution) contribution deductible
Self/family:
₹25,000 (₹50,000
if senior citizen).
Parents: additional
₹25,000 (₹50,000
Health insurance premium if senior citizen).
(self, spouse, children, Preventive
parents) + Preventive health check-up: within Payment must be
check-up + Medical overall limit, max non-cash (except
80D expenses for senior citizens ₹5,000 preventive check-up)
Maintenance, medical
treatment, rehabilitation of ₹75,000 (Normal
dependent with disability; disability) Dependent = spouse,
Contribution to approved ₹1,25,000 (Severe children, parents,
80DD LIC/insurer scheme disability) brothers, sisters
Medical expenses for Up to ₹40,000
specified diseases (₹1,00,000 if
80DDB (assessee or dependent) senior citizen) Subject to conditions
Entire interest paid
for 8 years (AY of Loan from approved
Interest on education loan repayment + 7 financial/charitable
80E (higher education) succeeding years) institution
Interest on home loan (loan
≤ ₹35 lakh; house ≤ ₹50 Assessee must not
80EE lakh; FY 2016-17) Up to ₹50,000 own another house
Interest on home loan (loan
sanctioned 01-04-2019 to
31-03-2022; house ≤ ₹45 Not eligible if claiming
80EEA lakh) Up to ₹1,50,000 under 80EE
Interest on loan for electric
vehicle (loan sanctioned
80EEB 01-04-2019 to 31-03-2023) Up to ₹1,50,000 Only for individuals
50% or 100% of
donation
Donations to notified (depending on No deduction for cash
80G institutions/funds institution) donation > ₹2,000
TI excludes LTCG,
STCG u/s 111A,
Least of: (i) Rent – deductions under
10% of TI, (ii) 25% 80C–80U (except
Rent paid (if HRA not of TI, (iii) 80GG), and income
80GG received) ₹5,000/month under 115A
Donations for scientific
research or rural No deduction for cash
80GGA development 100% of donation donation > ₹2,000
Donations to political parties Cash donations not
80GGC or electoral trusts 100% of donation eligible
Savings account interest
(banks, post office, Not available to
80TTA co-operative banks) Up to ₹10,000 senior citizens
Interest on deposits
(savings, FD, RD, post
office) – only for senior Includes all deposit
80TTB citizens Up to ₹50,000 interest
₹75,000 (Normal
disability)
Resident individual with ₹1,25,000 (Severe Must be certified by
80U disability disability) medical authority
Exemptions / New Tax Regime (Sec
Deductions Old Tax Regime 115BAC)
Rebate u/s 87A Up to ₹5 lakh (₹12,500) Up to ₹7 lakh (₹25,000)
₹75,000 (salaried &
Standard Deduction ₹50,000 pensioners)
✅ Available ❌ Not available
House Rent Allowance
(HRA)
✅ Available ❌ Not available
Leave Travel Allowance
(LTA)
Section 80C (LIC, PPF,
✅ Up to ₹1.5 lakh ❌ Not available
EPF, ELSS, NSC,
tuition fees, etc.)
✅ ₹50,000 extra ❌ Not available
NPS Contribution
(80CCD(1B))
Employer’s NPS
✅ Available ✅ Available
Contribution
(80CCD(2))
✅ Available ❌ Not available
Medical Insurance
Premium (80D)
✅ Available ❌ Not available
Home Loan Interest
(80EEA/80EE/24(b))
✅ Available ❌ Not available
Education Loan Interest
(80E)
Savings Account
✅ Available ❌ Not available
Interest (80TTA /
80TTB)
✅ Available ❌ Not available
Disability Benefits (80U,
80DD, 80DDB)
✅ Available ❌ Not available
Donations (80G,
80GGA, etc.)
Agricultural Income ✅ Available ✅ Available
Exemption
✅ Available ❌ Not available
EPF / PPF / VPF
Exemptions
✅ Available ❌ Not available
Meal Coupons / Food
Allowance
LTCG Exemption on
✅ Available ✅ Available
Equity (u/s 112A, up to
₹1 lakh)
✅ Available ✅ Available
Transport Allowance
(Disabled employees)
Family Pension
✅ Available ✅ Available
Deduction (₹15,000 or
1/3rd)