There is change in  limit of income tax deduction 2014-15 (A.Y.2015-16) with introduction of budget 2015. I have prepared chart for it. Through it you can get details of new deduction limit under section 80C, 80D etc.

Chart for income tax deduction 2014-15 ( A.Y. 2015-16)

Income tax deduction 2014-15 (A.y. 2015-16) limit

Deduction limit changes in budget 2015-16

SectionDeductionBefore budget 2015-16After budget 2015-16Other conditions to avail deduction
80CInvestment in Sukanya Samriddhi Account scheme is eligible for deduction.Interest and withdrawan are exempt.EEE (exempt-exempt-exempt) scheme. The account can be opened on the name of girl child in post office.
80CCDContribution to pension planMaximum limit Rs. 1,50,000Maximum limit Rs. 2,00,000
80DDeduction for medical expenditure and medical insuranceDeduction limit for person other than senior citizen is Rs. 15,000 and for senior citizen Rs. 20,000Deduction limit for person other than senior citizen is Rs. 20,000 and for senior citizen Rs. 30,000Deduction for medical insurance and health check up.
80DDBDeduction for medical treatment of very senior citizen (person having age of 80 years or more)Rs. 80,000 deduction Deduction for amount paid for medical treatment of very senior citizen.
80DDExpenditure for medical treatment of disabled dependent and life insurance premium paid for the purpose of maintenance of the dependent Maximum deduction limit - Rs. 50,000Maximum deduction limit - Rs. 75,000Not available for NRI
80DDExpenditure for medical treatment of disabled dependent and life insurance premium paid for the purpose of maintenance of the dependent -80% disabilityMaximum deduction limit - Rs. 1,00,000Maximum deduction limit - Rs. 1,25,000Not available for NRI
80UDeduction for expenditure of medical treatment of assessee who has 40% disabilityMaximum deduction 50,000Maximum deduction - Rs. 75000for Indian citizen and foreign national who is resident of india.
80UDeduction for expenditure of medical treatment of assessee who has severe disabilityMaximum deduction - Rs. 1,00,000Maximum deduction- Rs. 1,25,000
80CCC(1)Investment in pension planBefore limit - Rs. 1,00,000Maximum limit - Rs. 1,50,000.
80G Investment in national fund for control of drug abuse.100% deduction
80GInvestment in Swachh Bharat Kosh and to clean Ganga fund100% deduciton

 

[maxbutton id=”2″]

 

You can download Key features of budget from this link

Also read our post on changes in service tax in budget 2015- Link

I hope this chart will help you to understand income tax deduction 2014-15 limit and you will take benefit of income tax deductions for F.Y. 2014-15. Say thanks by sharing this post.  You can print this chart by using print button below.