How to claim tax benefits for up to Rs. 4,44,200

February 28, 2015 03:03 pm | Updated February 01, 2017 12:55 pm IST

Individual tax payer can claim exemption for up to Rs. 4,44,200 from his income.

Individual tax payer can claim exemption for up to Rs. 4,44,200 from his income.

During his Budget speech, Finance Minister Arun Jaitley said an individual tax payer can claim tax benefits for up to Rs. 4,44,200 in addition to the tax exemption.

Here is how you get there:

Deductions under 80C

Rs. 1,50,000

Deductions under 80CCD for contribution to NPS

Rs. 50,000

Interest on house property loan

Rs. 2,00,000

Exemption with new transportation allowance of Rs. 1,600 per month

Rs. 19,200

New deductible health insurance premium

Rs. 25,000

Total

Rs. 4,44,200

budget 2015

Here are sector-wise highlights

Taxation

Infrastructure

Education

Welfare schemes

Agriculture

Rural Infrastructure Development Bank Micro Irrigation Programme Targeted for farmer credit

Defence

allocated for defence (an increase of 9.87 per cent over last year)

Renewable energy

electric cars production Solar power Wind power Bio Mass Small Hydro

Tourism

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.