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*Here are some other avenues where you can save tax (other than Section 80C) :*
*80D Deduction in respect of heath insurance premium (upto !s "0000)*
Deduction upto *!s #$000* is aowed for any medica insurance premium paid for
yoursef% spouse% dependent chidren% parents& 'f any of parents is senior citien% then
deduction upto !s "0000 is aowed&
ease note that payment has to e made y any *mode other than cash* i&e& y
che+ue% credit card% deit card etc&
*80DD Deduction in respect of maintenance incudin, medica treatment of adependant who is a person with disaiity& (upto !s # a-h)*
Deduction of *!s $0000* is aowed a,ainst any expenditure for the medica treatment(incudin, nursin,)% trainin, and rehaiitation of a dependant% ein, a person withdisaiity or any amount paid or deposited scheme framed in this ehaf y the'nsurance Company&
.he deduction wi increase t*o !s # a-h%* where such dependant is a person with
severe disaiity&
.his deduction is aowed for yoursef% spouse% chidren% parents%
rothers and sisters&
Disaiity: / person with disaiity means a person sufferin, from not ess than 01 ofany of the eow disaiities&
* 2indness
* 3ow vision
* 3eprosy4cured
* Hearin, impairment
* 3ocomotor disaiity
* 5enta retardation
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* 5enta iness
* /utism
* Cerera pasy
* 5utipe disaiities
Severe disaiity means 801 or more of one or more of the aove disaiities&
*80DD2 Deduction in respect of medica treatment% (upto !s 60000)*
.he actua expenditure incurred on treatment of specified disease such as /'DS%
cancer% neuroo,ica diseases% etc&% is deductae to the extent of 0%000 or the actua
expense whichever is ower&
.he imit is increased to 60%000 in case of expense incurred for a senior citien&
.his deduction is aowed for individua% the spouse% chidren% parents% rothers and
sisters&
/s per !ue ##DD 7or the purposes of section 80DD2% the foowin, sha e the
ei,ie diseases or aiments :
(i) euroo,ica Diseases where the disaiity eve has een certified to e of 01
and aove%9
* Dementia
* Dystonia 5uscuorum Deformans
* 5otor euron Disease
* /taxia
* Chorea
* Hemiaismus
* /phasia
* ar-insons Disease
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(ii) 5ai,nant Cancers
(iii) 7u 2own /c+uired 'mmuno4Deficiency Syndrome (/'DS)
(iv) Chronic !ena faiure
(v) Hematoo,ica disorders :
* Hemophiia
* haassaemia&
*80; Deduction in respect of interest on oan ta-en for hi,her education&*
'nterest paid on an education oan ta-en for hi,her studies or vocationa curses +uaifies
for deduction under Section 80; of the '4. /ct& .he deduction is aso avaiae wherethe oan is ta-en for the purpose of hi,her education of spouse or chidren of the
individua or the student for whom the individua is a e,a ,uardian
.he oan shoud e ta-en from any financia institution or any approved charitae
institution for the purpose of hi,her education& *3oan from famiy memers < reatives
are not ei,ie for deduction&*
.he deduction enefit on interest is aowed for maximum ei,ht years% or ti the interest
is fuy paid&
*80= Deduction in respect of donations to certain funds% charitae institutions% etc&*
Deduction is aso avaiae for donations made to certain funds% charitae institutions
etc&
>ou can ,et $01 or #001 deduction dependin, on the charitae institution you
choose& 7or instance% money ,iven to certain funds i-e the ationa Defence 7und% the
rime 5inister?s ationa !eief 7und and the Chief 5inister?s !eief 7und en@oy #001
deduction& An the other
hand% =As such as Hepa,e 'ndia% C!> etc ,ive you ony $01 deduction&
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*So% it?s a ,ood idea to find out how much deduction is avaiae efore you donate&*
/thou,h% there is no ceiin, on the amount that can e caimed as deduction% in some
cases the tota deduction is imited to #01 of the ,ross tota income of the donor&
.he foowin, su4section ($D) sha e inserted after su4section ($C) of section 80=
y the 7inance /ct% "0#"% w&e&f& #44"0#B:
($D) *o deduction sha e aowed under this section in respect of donation of any
sum exceedin, ten thousand rupees uness such sum is paid y any mode other than
cash&*
*80== Deductions in respect of rents paid *
>ou can caim a d*eduction for rent paid to the extent of "%000 per month* even if you
don?t receive H!/ from your empoyer or you are sef4empoyed& .his deduction%
avaiae under Section 80==% is su@ect to some conditions&
Deduction to the extent of !s "%000 per month or "$ per cent of tota income (whichever
is ess) is avaiae under Section 80== of the '4. /ct
*'nterest paid on a second home oan is fuy deductie*
5ost peope -now that a deduction of up to !s #&$ a-h a year for the interest paid on
home oan can e caimed&
/so% if the taxpayer uys a second house throu,h another home oan and ,ives it on
rent% the *entire interest paid on this second home oan durin, a ,iven year can e
caimed as deduction*& 'f you have more than one house% any one is deemed to e
rented out& So the interest income on
the home oan for that house can e caimed entirey for deduction% provided the renta
income or deemed income is taxae&
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*How to Caim these deductions*
'f you have incurred any of the expenses aove% *you shoud caim deduction whie fiin,
your income tax return&*
ow4a4days% you cannot attach receipts of donations% expenses investments etc ut
-eep these in your safe records in case they are ater as-ed y 'ncome tax department&
7or previous year% *you can revise your return&* !evised return can e fied for any
previous year at any time efore the expiry of # year from the end of the reevant
assessment year or efore competion of the assessment whichever is earier&