Income upto Rs.1.6 lakh

Nil

Income above Rs.1.6 lakh
and upto Rs.5 lakh

10 per cent

Income above Rs.5 lakh and upto Rs.8 lakh

20 per cent

Income above Rs.8 lakh

30 per cent

Particulars

Taxable/Non- Taxable

Exemption/Rebate

Limit

Taxable Items:

-

-

-

Basic Pay

Fully Taxable

-

-

Dearness Pay

Fully Taxable

-

-

Grade Pay

Fully Taxable

-

-

Dearness Allowance

Fully Taxable

-

-

House Rent Allowance

Fully Taxable

-

-

City
Compensate Allowance

Fully Taxable

-

-

Medical Allowance

Fully Taxable

-

-

Family Planning Allowance

Fully Taxable

-

-

Arrear Amount

Fully Taxable

-

-

Maturity Amount of NSC

Fully Taxable

-

-

Total amount withdrawn from NSS

Fully Taxable

-

-

Transport Allowance

Partially Taxable

Rebate

Maximum upto Rs.800 PM

Children Education Allowance

Partially Taxable

Rebate

Maximum upto Rs.100 PM

Deductions:

Less-Allowance U/S 10(13A) Actual Rent Paid

-

Exempt

Actual amount of HRA received or Expenditure on rent in excess of 1/10th
of the salary or 50% of Salary, which ever is less Rent Paid

Interest on HBA U/S 24

-

Deduction

Maximum Rs.1,50,000

Reimbursement of Medical Exp. U/S 17(2)V

-

Deduction

Maximum Rs.15,000

U/S
80C

-

Deduction

Maximum Rs.1,00,000

Refund of loan taken for the construction of House

-

Deduction

Maximum Rs.1,00,000

C.P.F / G.P.F

-

Deduction

Maximum Rs.1,00,000

G.I.S

-

Deduction

Actual

LIC
Premium

-

Deduction

Maximum Rs.1,00,000

Subscription of N.S.C. / P.P.F

-

Deduction

Maximum Rs.1,00,000

Interest Occurred on investment in N.S.C.

-

Deduction

Maximum Rs.15,000

C.T.D. / L.I.P. / ULIP (Mutual Fund)

-

Deduction

Maximum Rs.1,00,000

Unit
Linked Plan

-

Deduction

Maximum Rs.1,00,000

Tuition Fee (Limited to 2 children) & (After XII th full time course)

-

Deduction

Maximum Rs.1,00,000

5
Years Fixed deposit & 5 years time deposit scheme

-

Deduction

Maximum Rs.1,00,000

U/S
80D CCC

-

Deduction

Maximum Rs.10,000

U/S
80CCD

-

Deduction

Maximum 10% of BP & DA (Recruited on or after 1.1.2004)

Medi
Claim Premium U/S 80D

-

Deduction

Maximum Rs.15,000 (Other than above Rs.1,00,000)

Premium paid for Self, Spouse & Children

-

Deduction

Maximum Rs.15,000 (other than above Rs.1,00,000)

Premium paid for Parents (If parent is not senior citizen)

-

Deduction

Maximum Rs.20,000 (Other than above Rs.1,00,000)

Premium paid for Parents (If parent is senior citizen)

-

Deduction

Maximum Rs.20,000 (Other than above Rs.1,00,000)

U/S 80DD

-

Deduction

Handicapped dependents :spouse, son / daughter, parents and brother /
sister - Deduction Rs.75,000 to Rs.1,00,000

U/S 80DDB

-

Deduction

Maximum Rs.400,00 (other than above Rs.1,00,000)

U/S 80E

-

Deduction

Entire amount (Interest on higher Education/Study loans)

U/S 80 G

-

Deduction

Deduction for contribution to charitable organization

U/S 80U

-

Deduction

Disability Deduction Rs.75,000 to Rs.1,00,000

Tax
Relief - Additional savings in Infrastructure Bonds : Rs.20,000

CGHS subscription will be exempted u/s 80D