DEDUCTIONS FROM GROSS TOTAL INCOME

1. SECTION 80C- DEDUCTION IN RESPECT OF INVESTMENT IN SPECIFIED ASSETS

2. SECTION 80CCC -DEDUCTION IN RESPECT OF CONTRIBUTION TO CERTAIN PENSION FUNDS

3. SECTION 80CCD- DEDUCTION IN RESPECT OF CONTRIBUTION TO PENSION SCHEME NOTIFIED BY THE

CENTRAL GOVT.

4. SECTION 80CCE- LIMIT ON DEDUCTIONS UNDER SECTIONS 80C, 80CCC & 80CCD (1)

5. SECTION 80D- DEDUCTION IN RESPECT OF MEDICAL INSURANCE PREMIUM

6. SECTION 80DD- DEDUCTION IN RESPECT OF MAINTENANCE INCLUDING MEDICAL TREATMENT OF A

DEPENDENT DISABLED

7. SECTION 80DDB- DEDUCTION IN RESPECT OF MEDICAL TREATMENT ETC.

8. SECTION 80E- DEDUCTION IN RESPECT OF INTEREST ON LOAN TAKEN FOR HIGHER EDUCATION

9. SECTION 80EE- DEDUCTION FOR INTEREST ON LOAN BORROWED FOR ACQUISITION OF HOUSE
PROPERTY BY AN INDIVIDUAL

10. SECTION 80EEA- DEDUCTION IN RESPECT OF INTEREST PAYABLE ON LOAN TAKEN FOR ACQUISITION
OF RESIDENTIAL HOUSE PROPERTY

11. SECTION 80EEB- DEDUCTION IN RESPECT OF INTEREST PAYABLE ON LOAN TAKEN FOR PURCHASE OF
ELECTRIC VEHICLE

12. SECTION 80G- DEDUCTION IN RESPECT OF DONATIONS TO CERTAIN FUNDS, CHARITABLE

INSTITUTIONS, ETC.
13. SECTION 80GG- DEDUCTION IN RESPECT OF RENT PAID

14. SECTION 80GGA- DEDUCTION IN RESPECT OF DONATIONS FOR SCIENTIFIC RESEARCH AND RURAL
DEVELOPMENT

15. SECTION 80GGB- DEDUCTION IN RESPECT OF CONTRIBUTIONS GIVEN BY COMPANIES TO POLITICAL

PARTIES

16. SECTION 80GGC- DEDUCTION IN RESPECT OF CONTRIBUTIONS GIVEN BY ANY PERSON TO POLITICAL
PARTIES

17. SECTION 80JJAA- DEDUCTION IN RESPECT OF EMPLOYMENT OF NEW EMPLOYEES

18. SECTION 80QQB- DEDUCTION IN RESPECT OF ROYALTY INCOME, ETC. OF AUTHORS OF CERTAIN
BOOKS OTHER THAN TEXT BOOKS

19. SECTION 80RRB- DEDUCTION IN RESPECT OF ROYALTY ON PATENTS

20. SECTION 80TTA- DEDUCTION IN RESPECT OF INTEREST ON DEPOSITS IN SAVINGS ACCOUNTS

21. SECTION 80TTB- DEDUCTION IN RESPECT OF INTEREST ON DEPOSITS IN CASE OF SENIOR CITIZENS

22. SECTION 80U- DEDUCTION IN THE CASE OF A PERSON WITH DISABILITY

 DEDUCTION OF TAX AT SOURCE

1. SECTION 192- SALARY

2. SECTION 192A- PREMATURE WITHDRAWAL FROM EMPLOYEES PROVIDENT FUND

3. SECTION 193- INTEREST ON SECURITIES

4. SECTION 194A- INTEREST OTHER THAN INTEREST ON SECURITIES

5. SECTION 194B AND 194BB- WINNINGS FROM LOTTERIES, CROSSWORD PUZZLES AND HORSE RACES

6. SECTION 194C- PAYMENTS TO CONTRACTORS AND SUB-CONTRACTORS

7. SECTION 194D- INSURANCE COMMISSION

8. SECTION 194DA- PAYMENT IN RESPECT OF LIFE INSURANCE POLICY

9. SECTION 194E- PAYMENTS TO NON-RESIDENT SPORTSMEN OR SPORTS ASSOCIATIONS

10. SECTION 194EE- PAYMENTS IN RESPECT OF DEPOSITS UNDER NATIONAL SAVINGS SCHEME, ETC.

11. SECTION 194F-REPURCHASE OF UNITS BY MUTUAL FUND OR UNIT TRUST OF INDIA

12. SECTION 194G- COMMISSION ETC. ON THE SALE OF LOTTERY TICKETS

13. SECTION 194H- COMMISSION OR BROKERAGE

14. SECTION 194-I – RENT

15. SECTION 194-IA – PAYMENT ON TRANSFER OF CERTAIN IMMOVABLE PROPERTY OTHER THAN
AGRICULTURAL LAND

16. SECTION 194-IB – PAYMENT OF RENT BY CERTAIN INDIVIDUALS OR HINDU UNDIVIDED FAMILY

17. SECTION 194-IC – PAYMENT UNDER SPECIFIED AGREEMENT

18. SECTION 194J- FEES FOR PROFESSIONAL OR TECHNICAL SERVICES

19. SECTION 194LA- PAYMENT OF COMPENSATION ON ACQUISITION OF CERTAIN IMMOVABLE

PROPERTY

20. SECTION 194M- PAYMENT MADE BY AN INDIVIDUAL OR A HUF FOR CONTRACT WORK OR BY WAY OF
FEES FOR PROFESSIONAL SERVICES OR COMMISSION OR BROKERAGE

21. SECTION 194N- TDS ON CASH WITHDRAWAL

22. SECTION 195A- INCOME PAYABLE NET OF TAX

23. SECTION 196- INTEREST OR DIVIDEND OR OTHER SUMS PAYABLE TO GOVT., RESERVE BANK OR
CERTAIN CORPORATIONS

24. SECTION 197- CERTIFICATE FOR DEDUCTION OF TAX AT A LOWER RATE

25. SECTION 197A- NO DEDUCTION IN CERTAIN CASES

26. SECTION 198- TAX DEDUCTED IS INCOME RECEIVED

27. SECTION 199- CREDIT FOR TAX DEDUCTED AT SOURCE

28. SECTION 200- DUTY OF PERSON DEDUCTING TAX

29. SECTION 200A- CORRECTION OF ARITHMETIC MISTAKES AND ADJUSTMENT OF INCORRECT CLAIM
DURING COMPUTERIZED PROCESSING OF TDS STATEMENTS

30. SECTION 201- CONSEQUENCES OF FAILURE TO DEDUCT OR PAY

31. SECTION 202- DEDUCTION ONLY ONE MODE OF RECOVERY

32. SECTION 203- CERTIFICATE OF TAX DEDUCTED

33. SECTION 203AA- FURNISHING OF STATEMENT OF TAX DEDUCTED

34. SECTION 204- PERSON RESPONSIBLE FOR PAYING TAXES DEDUCTED AT SOURCE
35. SECTION 206A- FURNISHING OF STATEMENTS IN RESPECT OF PAYMENT OF ANY INCOME TO
RESIDENTS WITHOUT DEDUCTION OF TAX

36. SECTION 206AA- MANDATORY REQUIREMENT OF FURNISHING PAN IN TDS STATEMENTS, BILLS,
VOUCHERS AND CORRESPONDENCE BETWEEN DEDUCTOR AND DEDUCTEE
 RELATED PARTIES UNDER INCOME TAX
‘Relative’ in relating to an individual has been defined under sub-section (41) of
Section 2, as the husband, wife, brother or sister or any lineal ascendant or
descendant of that individual.
Further, the Section 40A (2) defined “Related Parties and its close associates.” In a
condensed form, they are as follows:

Assessee Relatives or Associates

In case of • Any relative of the assessee

Individual • Any person in whose business or
profession the assessee himself or
his relative has a substantial
interest.

In case of Any –
Company, • Director
Firm, • Partner
Association of • Member of the association
person & • Member of the Family & Relatives
Hindu of them
Undivided Any person in whose business or
Family profession, as said above or relative
  of him of her has “substantial
Interest.”
Any Individual who has “substantial
interest” in the business or
profession of the “Assessee.”
A Company or Firm or AoP or HUF
having a substantial interest” in the
business or profession of the
“Assessee.”
Any other company carrying on
business or profession in which the
first mentioned has “substantial
interest”

“Substantial Interest” – Meaning of

Any person shall be deemed to have a ‘Substantial
Interest’ in a business or profession where,
• In case of Company, such beneficial owner of
shares (not being a shares entitled dividend with or
without participating in profits) having not less than
20% voting power. And
• In any other case, such person, beneficial entitled to
not less than 20% of the profits of such business or
profession.