WebFeb 8, 2024 · No, the Income Tax Act's Section 80C does not include Section 80E. Although they fall under the Income Tax Act, the two provisions are distinct. The primary distinction between Section 80E and Section 80C is that the former permits interest on student loan payments to be deducted, while the latter permits tuition deductions. WebThe tax deductions u/s 80CCD are categorised in 3 subsections as mentioned below: Employee Contribution Under Section 80CCD (1): A maximum of up to 10% of salary (for employees) or 20% of gross total income (for self-employed individuals). The limit is capped at Rs.1.5 lakh (aggregate of 80C, 80CCC, and 80CCD).
Section 80C to 80U Deductions - Latest Income Tax …
WebSection 80E of the Income Tax Act, 1961 relates to deduction for the repayment of Interest … WebApr 12, 2024 · The deduction under the new tax regime for gratuity in a lifetime is Rs 20 lakhs for non-government employees. If taxpayers have opted for voluntary retirement, then monetary benefits are eligible for tax exemption. The maximum limit is up to Rs 5 lakh in both the current and the new tax structure. Taxpayers who have opted for leave … introverted disney princesses
Insertion of new section 80E - incometaxindia.gov.in
WebSep 30, 2024 · Section 80E of the Income Tax Act, 1961 provides for a tax deduction against the repayment of interest on education loan. Further, only the interest amount paid in an EMI is available as a deduction. The repayment of the principal amount does not qualify for deduction under section 80E. Moreover, there is no upper limit of deduction available. WebJan 12, 2024 · No, Section 80E of Income Tax does not fall under Section 80C. Under … WebApr 11, 2024 · “Under the new regime, which will be the default regime from FY23-24, … introverted observant thinking prospecting