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Nithin Venugopal

DEDUCTIONS UNDER SECTION 80...
Hello Sir;

Could you please tell the logic behind providing the deductions to Individual assessees in Income Tax Act under Chapter VI-A specifically 80C, 80CCC, 80CCD?
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Amlan Dutta
I am not very clear on what you want to know but the deductions are provided so that individuals can save tax by investing in eligible investments ...........there is not enough space in this forum to address each section in detail ........i won't be able to waste further time answering theory ...al...
  • December 14, 2018
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Santanu

80CCD(1B) - Employee contribution NPS....
Sir, I am a railway employee . I fulfill my 80c quota of 1,50,000 savings but railway not giving me extra benefit of 80CCD(1B) in form 16 .
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Amlan Dutta
I believe that you are referring to your contribution made towards National pension Scheme .....You would like to check once whether you had made it clear during savings declaration to consider your contribution towards 80 CCD(1B) and hence by default employer has considered for 80 C deduction.

I...
  • November 20, 2018
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Sunil Sahoo

80 C Deduction- Life insurance premium, deferred annuity,.contributions to providend fund, etc...
For FY 2018 19, I paid LIC policy annual premium on 12th April 2019 i.e after 31st March 2019 ...can i claim benefit of 80 C for such policy premium payment for FY 2018 19 return (AY 2019 20)
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Amlan Dutta
The benefit of policy payment can be only taken in the year in which the payment has been done ...in this case, since you have made the payment in FY 2019 20, you will only be able to claim the tax benefit in FY 2019 20 ...note, the premium AGAIN due for FY 2019 20 which you are required to pay in F...
  • November 20, 2018
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Sunil Sahoo

80 C Deduction- Life insurance premium, deferred annuity,.contributions to providend fund, etc...
I have paid LIC premium of 12390 Rs 10,250 is the policy price and GST paid was GST (CGST 945 ) , SGST (945), so total of 12390 Rs ...can i claim benefit of 12390 Rs under 80 C .....
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Amlan Dutta
Good question, many believe that only Premium Paid towards Life Insurance Policies qualifies for deduction under section 80C of Income Tax Act, 1961.

As per Section 80C(2) of the Income Tax Act, 1961 any amount paid to an insurer to buy or to keep a life insurance policy in force can be claimed as ...
  • November 17, 2018
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Jayanthi MOHAN

80G - (Eligible Amount)- Donations to certain funds, charitable institutions, etc...
Are donations to Swacch Bharat & clean Ganga by residents as well as nonresidents exempted 100% for tax
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Amlan Dutta
On account of recent amendment , starting AY 2015 16 onwards, any donation made towards Swacch Bharat Koch and clean Ganga fund is 100% deductible under section 80 G of the IT act ,,,make sure that the section 80 G( especially the TAN details of the donee ) is properly filled to avail this deducti...
  • October 9, 2018
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Amit singh

80EE - Interest on loan taken for residential House property...
Hi amlan sir..maine apke sare home loan ke video dekha..but solution nahi mila. My query is...MAINE HOUSE REPAIRING KE LIYE 500000 LOAN liya hai uska Interest itr 1me kaise aur kaha show karu..house papa ka hai..mai saath me rata hu...
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Amlan Dutta
For Father's house, you wont get benefit of home loan since you enjoy no co ownership of the house ...assuming that you were a co-owner , in that case also, the correct section is not 80 EE but rather 24(b) under which you can seek benefit

Basically , if as a owner/co owner , you have have Home R...
  • September 25, 2018
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Jitendra B

80TTA - Income from interest on saving banks Accounts...
I have received notice u/s 143(1) with a demand raised because the CPC denied the Sec 80TTA deduction. A demand was raised under menu eFile. I had entered exact 10000 in Sec 80TTA in AY 17-18.

1) I have Disagreed with the demand with suitable explanation of missing 80TTA deduction
2) Under Rectifica...
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Amlan Dutta
Yes, you are correct in disagreeing with the demand but you should have also mentioned that the 80 TTA was on account of savings interest and if there was scope of attachments , then you could have attached the savings statement from the bank ....rectification is correct under reprocess the case but...
  • September 4, 2018
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Jitendra B
Thanks Amlan for the guidance.
  • September 5, 2018
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Sowmya

80D - Health Insurance premium...
Dear Mr.Amlan, Can you please let me know if my husband can claim 80D benefit for the medical insurance taken for my parents (his in laws) . They are both senior citizens and also I am not employed currently. I was working until September 2017 and I did not claim this benefit for myself since my hus...
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Amlan Dutta
No, the section 80 health insurance premium is available for only parents of self and not in laws ...your husband can use this section for claiming benefit for self, spouse(you), dependent children or his own parents but not yours ...studying the return itself will also demonstrate the same (check ...
No, the section 80 health insurance premium is available for only parents of self and not in laws ...your husband  can use this section for claiming benefit for self, spouse(you), dependent children or his own parents but not yours ...studying the return itself will also demonstrate the same (check attached picture)
  • August 31, 2018
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Akash Viswam

80DD - Expenditure towards medical treatment of dependant...
Dear Amlanji,

1) Shall I claim the medical expenses (40K) incurred for me (age 38) under 80D (B)?
2) I do not have the original bills with me, as I have tried reimbursing the above expenses (but the insurance company rejected the same)

Kindly advise.
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Amlan Dutta
You need to have the original bills .....please understand the difference between mediclaim insurance and expenses ...for expenses , it is just 5000
  • August 28, 2018
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Akash Viswam
Thank you
  • August 29, 2018
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cherry

80D - Health Insurance premium...
Medical insurance premium deducted by my employer from salary which is mentioned in payslip as 'insurance' but not in Form 16. Can i show in my return.
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Amlan Dutta
I hope you are referring to the health insurance premium( mediclaim) ....
if such deduction benefit is available to you ( i.e you have a health insurance in place as eligible under 80 D) you can claim
  • August 28, 2018
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Shashikant Singh

80 C Deduction- Life insurance premium, deferred annuity,.contributions to providend fund, etc...
Hello Sir,
I am a state govt. servant. I want to know under whuch head GIS has to be added. GIS (Group Insurance Scheme) of Rs. 400/- monthly is deducted from my salary by emoloyer.
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Amlan Dutta
If under salary breakup , you mean , you can add it to non exempt portion and under deductions you shall show it under 80 c.... Basically for group saving linked insurance scheme , employees' total contribution, savings as well as risk premium is entitled for income-tax rebate under Sec. 80C of the...
  • August 19, 2018
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ATUL THAKUR

Deduction benefit of NPS...
Sir,

I am working in a nationalised bank. In my form 16,part B, this NPS Contribution mentioned under section 9.A.(c) & 9.B.(b) , as you can see from screenshot,that my 80ccd(1) contribution in section 9.A(c) is shown as Rs 75117, and 80ccd(1B) deduction is Rs 36325 . and deduction under 80ccd2(empl...
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Amlan Dutta
I will not go into extensive explanation , i have already made the subject amply clear in my videos ...in short , you can show 50,000 in 80 CCD(1B) and yes , you can show employer contribution in 80 CCD(2) ...You will get a adjustment notice for variance with form 16 and your return figures shall b...
  • August 19, 2018
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