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

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