This newly modified section provides that where the assessee is a new retail investor, and his total income is less than 12 lakh, an amount of Rs.50,000 50% of the amount deposited under Rajiv Gandhi Equity invested in Savings Scheme (RGESS) would enable shares/units the investor to deduction of 50% of the 7. subject to a amount so invested up to a maximum maximum investment of Rs.50, 000/- from his investment of taxable income under section 80CCG, as Rs.50,000/- part of the Government of India policy to promote new retail investment in capital markets (a person will be entitled to this benefit only once). Medical Insurance Premium or Contribution to Central Government Health Scheme paid by any mode other than cash. Payment of an amount of Up to Rs. 25,000. Rs.5000/- incurred towards Preventive Health Check-up can 8. 80D also be claimed as deduction within the overall ceiling as above. For Senior Citizens Up to Rs. 30,000. Medical expenses for uninsured Up to Rs. 30,000/- senior citizens. Any expenditure on dependent for Medical, Nursing & Rehabilitation incurred on dependent Up to Rs.75, 000 relative suffering from permanent if disability is over 40% & physical Disability, Autism, Cerebral Mental Retardation, Rs.1, 25,000 if 9. 80DD and Multiple disabilities. disability is severe (i.e., 80% or more Deposits LIC, UTI’s Scheme & of one or more other IRDA approved Insurers for disabilities). the benefit of Physically Handicapped dependent. a. Actual expenditure incurred on medical treatment of self or dependent family members suffering from Up to Rs.40,000 terminal diseases like Cancer, AIDS, Renal Failure etc. 10 DDB Up to Rs.60,000 b. For Senior Citizens. Up to Rs.80,000 c. For Super Senior Citizen
7. This newly modified section provides that where the assessee is a new retail investor, and his total income is less than 12 lakh, an amount of Rs.50,000 deposited under Rajiv Gandhi Equity Savings Scheme (RGESS) would enable the investor to deduction of 50% of the amount so invested up to a maximum investment of Rs.50, 000/- from his taxable income under section 80CCG, as part of the Government of India policy to promote new retail investment in capital markets (a person will be entitled to this benefit only once). 50% of the amount invested in shares/units subject to a maximum investment of Rs.50,000/- 8. 80D Medical Insurance Premium or Contribution to Central Government Health Scheme paid by any mode other than cash. Payment of an amount of Rs.5000/- incurred towards Preventive Health Check-up can also be claimed as deduction within the overall ceiling as above. Up to Rs. 25,000. For Senior Citizens Up to Rs. 30,000. Medical expenses for uninsured senior citizens. Up to Rs. 30,000/- 9. 80DD Any expenditure on dependent for Medical, Nursing & Rehabilitation incurred on dependent relative suffering from permanent physical Disability, Autism, Cerebral Mental Retardation, and Multiple disabilities. Up to Rs.75, 000 if disability is over 40% & Rs.1, 25,000 if disability is severe (i.e., 80% or more of one or more disabilities). Deposits LIC, UTI’s Scheme & other IRDA approved Insurers for the benefit of Physically Handicapped dependent. 10 DDB a. Actual expenditure incurred on medical treatment of self or dependent family members suffering from terminal diseases like Cancer, AIDS, Renal Failure etc. b. For Senior Citizens. c. For Super Senior Citizen Up to Rs.40,000 Up to Rs.60,000 Up to Rs.80,000
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