Tax Planning: INCOME TAX Exemption* Updates... For every Tax payer For FY:17-18 to help the Tax Planning.
🔱 *80 C* :- Max limit
150000/- (Life Insurance Premium, MF , FD , NSC, PPF , Home Loan Principal , etc.)
🔱 *80CCD* :-50000/- (NPS)
🔱 *80CCG* :- 25000/- or 50% of your investment which ever is less
🔱 *80D* :-25000/-
( Mediclaim Policy for self spouse, children)
🔱 30000/- for dependent parents u/s-80D. Medical reimbursement :- 15000/- US 17(2)
🔱 *80DDB*:- Medical expense occurred on dependent for specified illment
🔱 *80TTA*:- Up to 10000/- for Interest saving bank account
🔱 *Gift tax* :- Exempted upto 50000/-. Above 50k full amount taxable (FY) from other than Blood relation.. Gift from Blood relation is 100%Exempted...
🔱 *Transport allowance* :- 19200/- (FY)
C.E.A. :- 2400/- (FY)
🔱 *HRA* :- as per the calculation
🔱 *24(b)* :- 200000/- (home loan interest :even if you have multiple house the limit is still going to be Rs 2 Lakh only and the ceiling limit is not per house property)
🔱 *80G* :- full amount in few selected organisation. This exemption is 50%.
🔱 *80GG* :- Rs 60,000 per annum. Section 80GG is applicable for all those individuals who do not own a residential house & do not receive HRA (House Rent Allowance).
🔱 *80GGB* :- 100% exemption for political parties
🔱 *80EE* :- unlimited (interest on education loan)....
🔱 *80U* :- 75000/- (in case of taking care of a Handicapped depends)..
So Plan Your Financial Year 2017-18 Income Tax bn Exemption accordingly.
We would be happy to assist you in your Tax Planning.
