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Questions and Answers
What is the maximum deduction allowed under Section 80CCC for payment of premium towards an annuity plan?
What is the maximum deduction allowed under Section 80CCC for payment of premium towards an annuity plan?
- Rs. 1,00,000
- Rs. 2,00,000
- Rs. 1,50,000 (correct)
- Rs. 50,000
Which of the following investments is eligible for deduction under Section 80C of the Income Tax Act?
Which of the following investments is eligible for deduction under Section 80C of the Income Tax Act?
- Investment in stocks and shares
- Purchase of a luxury car
- Contribution to a recognized Provident Fund (correct)
- Payment made for foreign travel expenses
Which of the following individuals can claim a deduction under Section 80CCD(1)?
Which of the following individuals can claim a deduction under Section 80CCD(1)?
- Both employees and self-employed individuals contributing to a pension scheme (correct)
- Only employees contributing to a Provident Fund
- Only self-employed individuals contributing to a pension scheme
- Individuals not receiving any income
What is the maximum deduction allowed under Section 80CCD(1B) for contributions to the National Pension Scheme?
What is the maximum deduction allowed under Section 80CCD(1B) for contributions to the National Pension Scheme?
Which of the following payments is NOT eligible for deduction under Section 80C?
Which of the following payments is NOT eligible for deduction under Section 80C?
For what purpose must the premium be paid to qualify for a deduction under Section 80CCC?
For what purpose must the premium be paid to qualify for a deduction under Section 80CCC?
What is the maximum deduction available under 80C, 80CCC, and 80CCD(1)?
What is the maximum deduction available under 80C, 80CCC, and 80CCD(1)?
For senior citizens, what is the maximum deduction available for Medical Insurance Premium for self and family members under 80D?
For senior citizens, what is the maximum deduction available for Medical Insurance Premium for self and family members under 80D?
What is the maximum deduction available for Medical Insurance Premium for parents (Senior Citizens) under 80D?
What is the maximum deduction available for Medical Insurance Premium for parents (Senior Citizens) under 80D?
What is the maximum deduction under 80DD for maintenance including medical treatment of a dependent with severe disability (more than 80%)?
What is the maximum deduction under 80DD for maintenance including medical treatment of a dependent with severe disability (more than 80%)?
Under which section can a deduction be claimed for interest on a loan taken for higher education?
Under which section can a deduction be claimed for interest on a loan taken for higher education?
What is the maximum deduction available under section 80DDB for medical treatment of specified disease or ailment?
What is the maximum deduction available under section 80DDB for medical treatment of specified disease or ailment?
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