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Claiming Deduction, but not under Section 80C

Generally, many of us claim Tax Deduction under section 80C, but there are other sections too, under which you can claim the deduction and save taxes. Here is detailed information about those sections: –

SECTION 80UInvestments-to-Save-Tax-under-Section-80C

This section of Income Tax Act came into being on 1st April 2004, this section talks about the tax deduction for a person suffering from Physical disability including blindness and mental retardation. This is a fixed deduction and it is not based on bills or expenses. A deduction Rs. 75,000 can be claimed under this section. In case of severe disability, a deduction of Rs. 1.25Lakhs can be claimed. To claim deduction a medical certificate from a government doctor should be presented.

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SECTION 80GGBincome-tax-deduction-list-2017-18

Section 80GGB focuses on the tax deduction on the contributions given by Companies to the Political Parties…The political party should be registered under section 29A of the Representation of the People Act. Deduction under this section is allowed only when the contribution is not given in the form of cash.

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SECTION 80GGCclaiming Deduction

Under this section, a taxpayer can claim a tax deduction, if the taxpayer has given some contribution to a political party registered under section 29A of the Representation of the People Act. This deduction is allowed only when the contribution is not given in the form of cash.

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SECTION 80RRB

Under section 80RRB, the taxpayer can claim for a tax deduction on the income by a royalty for a patent that is registered on or after 1st April 2003, under the Patents act 1970. The taxpayer can claim up to Rs. 3Lakhs or the income received. The taxpayer must furnish a certificate signed by the appropriate authority. The taxpayer should be an individual resident of India.

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