SL.NO.

I.T.  Section

Exempted, Allowance, Perks

Amount of Exemption

Categories of Assesses Entitled

1

10(5)

Leave Travel

Actual Amount spent in respect of 2 journeys in a block of 4 calendar years (Current Block is 2006-2009)

All Employees

2

10(10)(i)

Retirement/ Death Gratuity

 
Actual Amount

Govt. employees

3

10(10)(ii)

Gratuity Received under Payment of Gratuity Act, 1972

Least of : 15 days salary or 3.5 lakh or Gratuity Received

Non-Govt. employees

4

10(10)(iii)

Any other Gratuity

Least of : 15 days average salary or 3.5 lakh or Gratuity Received

Non-Govt. employees

5

10(10A)(i)

Commuted Pension

    Full Amount

State/Central Govt. ,Defense & Civil Service Employees

6

10(10A)(ii)a

Commuted Pension   (where employee is eligible for Gratuity)

33.33% of the Commuted Value of Pension

Employees    excluding as  mentioned at SL.No.5

7

10(10A)(ii)b

Commuted Pension   (where employee is Not eligible for Gratuity)

50% of the Commuted Value of Pension

Other Employees not covered at SL.No-5

Exemptions mentioned at SL. No. 2 to 7 are allowed once in the life time service of an employee.

8

10(10B)

Any compensation received by a workman under the Industrial Disputes Atc, 1947 at the time of retrenchment.

Compensation as computed in accordance with Sec.25F(b) of Industrial Disputes Act or Rs. 5 Lakhs whichever  ls less.

Individual

9

10 (10C)

Voluntary Retirement Benefits [if Voluntary Retirement Scheme is approved by IT Dept.)

Max. limit Rs. 5 Lakhs.

All Employees

10

10 (13A)

House Rent      Allowance

Under Rule 2A (See HRA)

All Employees

11

10 (10D)

Maturity Value including Bonus received from Life Insurance Cos. expect **

Full Amount

Any Assessee

 12

10 (11)

Amount received from Provident Fund & Public Fund & Public Provident Fund

Full Amount

Individual / H.U.F.

Categories

10(1)
10(2)
10(2A)
10(10AA)
10(16)
10(18)
10(32)
10(34)
10(35)

Agricultural Income
Received from HUF
Partner’s share of profit from partnership firm
Leave Encashment on retirement subject to limits
Scholarship granted to meet the cost of education
Pension/family pension received by the Gratuity awardees
Income of Minor child up to Rs. 1,500 p.a.
Dividend income from a company
Dividend income from a Mutual Fund

SL.NO.

I.T. Section

Allowance, Perks, Allowed

Amount of Exemption

Categories of Assesses entitled

1.
a.

b.

c.

80C

80 CCC

80 CCD

Life Insurance Premia, Provident Fund**,NSC, ELSS, Tuition Fees (max. 2 Children) Repayment of principal of House Loan, Bank Deposit of 5 Yrs period etc.

Premium paid towards approved Pension Fund(like LIC’sJeevan Suraksha) max. 1 Lakh.

Contribution to Central Government pension Schemes. Upto 10% of Salary with matching contribution from Govt.

Maximum  
overall
Deductions
allowed
under
section
80C,
80CCC &
80CCD is
Rs. 1 lakh.

Individual / HUF

Individual / HUF

Central Govt. Employees / Non-Govt. Employees

2.

80D

(a) Medical Insurance Premium paid by cheque for policies taken from GIC/ other IRDA approved insurers.

(b) For Senior Citizen

1. Rs.15,000 for Self / Spouse / Children. Addl. 15000 for Parents. If Parents are Sr. Citizens Rs. 20000.

2. For Senior Citizen Rs.20,000

Individual / HUF

3.

80 DD

(A) Any expenditure for Medical, Nursing & Rehabilitation incurred on dependent relative suffering from permanent Physical Disability * AND

(B) Deposit under LIC, UTI’s Scheme & other IRDA approved Insurers for the benefit of Physically Handicapped dependent ( e.g. LIC’s Jeevan Aadhar)

Rs.50,000 with an additional Rs.25,000 if the disability is severe exceeding 80%

Individual / HUF

* Individuals suffering from permanent disability including blindness, mental retardation, autism, cerebral palsy or multiple disabilities.

4.

80 DDB

(A) Actual expenditure incurred on Medical treatment of Self or dependent relative or a member of HUF suffering from terminal disease like, Cancer, AIDS, Renal failure, etc.

(B)  For Senior Citizens

Upto   Rs. 40,000

Upto Rs. 60,000

Individual / HUF

5.

80 E

Interest on Loan taken from Financial/Charitable Institution for Self, for Higher Education (for a max. period of 8 years)

Any amount

Resident Individual

6a.

6b.

80 G

80 G

Donation made to National Defense Fund, P.M.’s Relief Fund, approved
Funds of Univ. or Educational institutions of National Fame, National Trust for welfare of persons with Autism, Cerebral Palsy etc.

Donation made to Jawaharlal Memorial Fund, PM’s Drought Relief Fund, Any Charitable Institutions, A corporation established by the Government for promoting interest of the members of a Minority Community.

100% Donation

50% of Donation. In some cases donation is restricted to 10% of gross total income. 100% in some cases like National Defense Bond

All Assessee

All Assesses

7.

80 GG

Deduction in respect of rents paid, provided no house is owned by self, spouse, minor child or HUF in the place of work and is residing in any of the specified cities and subject to filing of declaration in Form No. 10BA.

25 % of Income or
rent paid in excess of 10% of income or ceiling of Rs. 24,000 p.a. whichever is less.

Individuals

[no exemption is allowed to those who are in receipt of HRA & claiming deduction u/s 10(13A)]

8,

80 U

Person suffering from Permanent Physical Disability as specified in Rule 11D.

Rs. 50,000 (Rs. 75,000 in case of Severe Disability)

9.

 24

Int. on Housing Loan :
Taken upto 31-3-99 max. of
Taken after 01-04-99 max. of

Rs. 30,000
Rs. 1.5 lakh

Assesses having Self Occupied House Property.

No limit in respect of Let-out property.