

Income Tax Deductions List – Deductions on Section 80C, 80CCC, 80CCD & 80D – FY 2023-24 (AY 2024-25)
1. Section 80C – Deductions on Investments
Section 80C allows individuals and Hindu Undivided Families (HUFs) to reduce their taxable income by making specific investments or incurring eligible expenses. The maximum deduction under this section is ₹1,50,000 per annum. Eligible investments and expenses include:
- Life Insurance Premiums: Premiums paid for life insurance policies for self, spouse, or children.
- Public Provident Fund (PPF): Contributions to PPF accounts.
- Employee Provident Fund (EPF): Employee contributions to EPF.
- National Savings Certificate (NSC): Investments in NSC.
- Sukanya Samriddhi Yojana (SSY): Deposits in SSY accounts for a girl child.
- Senior Citizen Savings Scheme (SCSS): Investments in SCSS.
- 5-Year Tax Saving Fixed Deposit: Fixed deposits with a tenure of 5 years with scheduled banks.
- Equity Linked Savings Scheme (ELSS): Investments in specified mutual funds.
- Principal Repayment of Home Loan: Repayment of the principal amount of a home loan.
- Tuition Fees: Tuition fees paid for up to two children for full-time education in India.
2. Section 80CCC – Deduction for Pension Funds
This section provides deductions for contributions made to certain pension funds. The maximum deduction under this section is ₹1,50,000.
3. Section 80CCD – Deduction for National Pension Scheme (NPS)
- Section 80CCD(1): Deduction for contributions made by an individual towards NPS. The maximum deduction is 10% of salary (for salaried individuals) or 20% of gross total income (for self-employed), subject to an overall limit of ₹1,50,000 under Section 80C.
- Section 80CCD(1B): An additional deduction of up to ₹50,000 for contributions to NPS, over and above the limit of ₹1,50,000 under Section 80C.
- Section 80CCD(2): Deduction for employer’s contribution to NPS, up to 10% of salary. This is over and above the limits of Section 80C.
4. Section 80D – Deduction for Medical Insurance Premiums
Individuals and HUFs can claim deductions for premiums paid towards health insurance policies:
- Self, Spouse, and Dependent Children: Up to ₹25,000.
- Parents (Below 60 Years): Additional deduction up to ₹25,000.
- Parents (Above 60 Years): Additional deduction up to ₹50,000.
- Self and Family (If the taxpayer is above 60 years): Up to ₹50,000.
An additional deduction of ₹5,000 is available for preventive health check-ups, within the above limits.
5. Section 80DD – Deduction for Maintenance of Disabled Dependents
This section provides deductions for expenses incurred in the medical treatment, training, and rehabilitation of a dependent with a disability:
- For Disability (40% or more but less than 80%): ₹75,000.
- For Severe Disability (80% or more): ₹1,25,000.
6. Section 80DDB – Deduction for Specified Medical Treatment
Deductions are available for expenses incurred on medical treatment of specified diseases:
- For Individuals Below 60 Years: Up to ₹40,000.
- For Senior Citizens (60 Years and Above): Up to ₹1,00,000.
7. Section 80E – Deduction for Interest on Education Loan
Interest paid on loans taken for higher education is eligible for deduction under this section. There is no upper limit on the amount of interest that can be claimed, but the deduction is available for a maximum of 8 years or until the interest is fully paid, whichever is earlier.
8. Section 80EE – Deduction for Interest on Home Loan for First-Time Homeowners
This section provides an additional deduction of up to ₹50,000 for interest paid on home loans, subject to certain conditions:
- The loan amount should not exceed ₹35 lakh.
- The value of the residential property should not exceed ₹50 lakh.
- The loan must be sanctioned between 1st April 2016 and 31st March 2017.
9. Section 80EEA – Deduction for Interest on Home Loan for Affordable Housing
An additional deduction of up to ₹1,50,000 is available for interest paid on home loans for affordable housing, subject to conditions:
- The stamp duty value of the house should not exceed ₹45 lakh.
- The loan must be sanctioned between 1st April 2019 and 31st March 2022.
- The taxpayer should not own any residential property on the date of sanction of the loan.
10. Section 80G – Deduction for Donations to Charitable Institutions
Donations made to specified funds and charitable institutions are eligible for deduction under this section.