INCOME TAX Exemption Updates. ... (For FY:16-17)

• 80 C:- Max limit
  150000/- (MF-ELSS, MF-Pension Plans, Life Ins Premium, One time investment in LI-Immediate Assured Pension Plans, NSC, etc.)
• 80CCD:-50000/- (NPS)
• 80CCG:- 25000/- or 50% of your investment which every is less
• 80D:-25000/-( Mediclaim Policy for self spouse, children)
  30000/- for dependent parents u/s-80D. Medical reimbursement :- 15000/- US 17(2)
• 80DDB:- Medical expense occurred on dependent for specified illment
• 80TTA:- Up to 10000/- for Interest saving bank account
• Gift tax :- Exempted upto 50000/-. Above 50k full amount taxable (FY) from other than Blood relation.. Gift from Blood relation is 100%Exempted...
• Transport allowance :- 19200/- (FY)
  C.E.A. :- 2400/- (FY)
• HRA :- as per the calculation
• 24(b) :- 200000/- (home loan interest)
• 80G :- full amount in few selected organisation. This exemption is 50%
• 80GGB. :- 100% exemption for political parties
• 80EE :- unlimited (interest on education loan)....

Have a Great 2016-2017 Financial Year......!!