Chapter VIA List of All Deductions at a Glance

As per the Finance Budget 2016, some of Income Tax Section limit has increased & Modified. Now we are looking below the list of which section limit is increased Under Chapter V A 

Sections
Particulars
Allowed to
Quantum of deduction
80C
Deduction in respect of Life Insurance Premium, Contribution to Provident Fund, etc.
Deduction in respect of contribution to certain pension funds
Individual and HUF
Max. Rs.1,50,000
80CCC
Deduction in respect of contribution to certain pension funds
Only individuals
Max. Rs.1,50,000
80CCD
Deduction in respect of contribution to notified pension scheme of Central Government
Salaried employee or self-employed individual
Employer and employee contribution not exceeding 10% of salary in each case. Maximum deduction to an employee or self-employed person for his contribution limited to Rs.1,00,000
80CCD
(1B)
New N.P.S. in respect pension scheme
Only Individuals
Max Tax Relief Rs.50,000/- out of U/s 80C Rs.1.5 Lakh
80CCE
Limit on deductions under sections 80C, 80CCC and 80CCD (1), Note the Section 80CCD(2) is a Employer’s contribution to the employees Pension Fund Max 10% or Basic and U/s 80CCD(1B) is out of limit of U/s  80CCE i.e. 1.5 Lakh + 80CCD(2) + 80CCD(1B)
N.A.
Rs.1,50,000 + 80CCD(2) + 80CCD(1B)
80D
Deduction in respect of medical insurance premium
Individual or HUF whether resident or non – resident
In case of individual – Maximum Rs.25,000

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80DD
Deduction in respect of maintenance including medical treatment of dependent who is a person with disability
For senior citizen
Individual or HUF resident in India
Addl. Rs.5,000
Rs.50,000 or Rs.1,00,000 in case of a person with severe disability
80DDB
Deduction in respect of medical treatment, etc.
Individual or HUF resident in India
Max.Rs.40,000
80E
Deduction for interest paid on loan
For senior citizen
Individual whether resident or not
Addl. Rs.20,000
Actual amount paid
80EE
Deduction in respect of interest on loan sanctioned during the financial year 2016 – 17 for acquiring residential house property
Individual only
Maximum Rs. 1,50,000
80G
Deduction in respect of donations to certain funds, charitable institutions, etc.
All assesses
(a)   100% or 50% of eligible donations, without applying qualifying limit in certain cases

80
GG
Deductions in respect of rent paid,who are not getting the H.R.A. from the employer.
Individual only
(b)    100% or 50% of eligible donations, after applying – Qualifying limit of 10% of adjusted GTI, Maximum Rs.5,000 p.m.
80
TTA
Deduction in respect of interest on deposits in saving accounts
Individual or HUF
Maximum Rs.10,000
80U  
Deduction in the case of a person with disability
Resident individuals
Rs.75,000 in case of a person with disability and Rs.1,25,000  in case of a person with severe disability
87A
Tax Rebate, who’s taxable Income less than 5 Lakh
Resident Individuals
Max Rs. 5,000/- from the F.Y.2016-17