Tax deductions are legal reductions in taxable income offered under the Income Tax Act of India. By investing in specified instruments or spending on eligible areas like health insurance, education, and housing, individuals and businesses can save significant tax amounts. Knowing these deductions helps in smarter financial planning and maximized returns.
At Gewinn Care, we guide you in claiming all available deductions under Sections like 80C, 80D, 80E, 80G, 24(b) and many more.
Deduction up to ₹1.5 lakh for investments in LIC, PPF, NSC, ELSS, 5-year FDs, tuition fees, etc.
Deduction up to ₹25,000 (₹75,000 for senior citizens) for medical insurance premiums for self and family.
Deduction on interest paid on education loans for higher education for up to 8 years without limit.
Up to ₹2 lakh per year deduction on interest paid on home loans under 'income from house property'.
Get 50%-100% deduction on donations to registered charitable institutions and relief funds.
Flat deduction of ₹75,000 to ₹1.25 lakh for individuals with 40% or more certified disability.
Up to ₹1.25 lakh deduction if you support a dependent with a disability (medical & maintenance expenses).
Deduction of ₹40,000 (₹1 lakh for seniors) for treatment of specified diseases like cancer, kidney failure.
Additional deduction of ₹50,000 under 80CCD(1B) for contributions to the National Pension Scheme.
Additional ₹50,000 deduction on home loan interest for first-time home buyers under certain conditions.