| Salary |
Remarks |
| Value of
travel concession in India |
Subject to
rules framed by CBDT; exemption will be limited to actual expenses
incurred |
| Allowances
or perquisites paid or allowed outside India for services rendered
outside India |
|
| Gratuity
received by employees on retirement, termination of services,
etc. |
Subject to
a limit of Rs 3,50,000 |
| Commuted
value of pension |
Subject to
Income Tax rules |
| Leave encashment |
Subject to
a limit of Rs 2,40,000 |
| Retrenchment
compensation |
Subject to
rules |
| Amount received
under VRS |
Subject to
a limit of Rs 5,00,000 for VRS framed under the Income Tax Rules |
| Amount recived
from a PF or the PPF |
|
| Accumulated
balance in a recognised PF |
Subject to
rules |
| Amount received
from an approved superannuation fund |
Subject to
rules |
| House rent
allowance from the employer |
Subject to
rules |
| Prescribed
allowances- Includes allowance granted to meet the cost of travel
(on tour or transfer), daily charges on transfer, on conveyance,
charges for helper and purchase of uniform on performance of
office duties |
|
| Dividend income |
|
|
|
| Others |
|
| Income from dividends |
|
| Agricultural income |
|
| Any sum received under a life
insurance policy |
|
|
|
| Deductions from income |
|
|
|
| Contributions
to Jeevan Suraksha under Sec. 80CCC (upto Rs 10,000) |
Subject to
a limit of Rs 10,000 |
| Medical insurance
premium of upto Rs 10,000 under Sec. 80D |
Subject to
a limit of Rs 10,000 |
| Treatment
on handicapped dependent under Sec. 80 DD (including investment
in the Special Plan for the Handicapped of UTI and the Jeevan
Adhar plan of LIC) |
Subject to
a limit of Rs 40,000 |
| Expenditure
on treatment of protracted diseases like Cancer, AIDS, Renal
failure, etc. under Sec. 80 DDB |
Subject to
a limit of Rs 15,000 |
| Repayment
of loan and interest thereon taken from approved or notified
sources for specified higher education is deductible over 8
successive years, under Sec. 80 E |
Subject to
a limit of Rs 25,000 |
| Reduction
in respect of donation to certain funds, charitable institutions,etc
under Section 80G as per the conditions stated therein. |
Could vary
between 50% and 100% of the amount donated |
| Deduction
on house rent paid under Sec. 80GG |
Subject to
rules - see sample tax calculation |
| Donation
for scientific research or rural development under Section 80GGA. |
Complete
amount |
| Deduction
in respect of aggregate earnings from deposits in banking companies
and co-operative banks, co-operative societies and approved
public financial institutions and companies. |
upto a maximum
of Rs. 15,000 (of which Rs. 3,000 is specially dedicated to
government securities and income from MFs) |
| Deduction
in respect of remuneration/ professional income from foreign
sources/ enterprises/ employers under Section 80-O, 80R, 80RR,
80RRA |
Upto 75%
of the income brought in |
