In this Infographic, I have compiled all the Major Income tax deductions list for the financial year 2019-20, for easy comfortable read and understanding.
Due to limited space, you may not be able to get the complete details of that specific section, but it gives a good overview and to further search what could apply to you.
However in some cases like for section 80C, I have already written a detailed post on the qualifying investments, which may be referred here, and also for the expenses that is part of overall tax saving covered u/s 80DD, 80DDB, and 80U have been explained here.
However, there are some other sections like 80GG which apply to the people who do not get HRA to cover for their house rent payments, but since that is not applied to all, and only specific people may take that benefit so that has not been included in this Income tax deduction list. To know more about Section 80GG, you may check my other post.
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There is another detailed post on Section 80CCD which covers New pension scheme, which you may refer to here. Over a period, NPS has become one of the important and useful products one must-have in the investment portfolio and which also gives additional tax saving.
To Open the NPS account online, you may visit Enps site.
Besides the Tax saving options mentioned in the Income-tax deduction list as shared above, there are some other specific areas like Home loan, Affordable housing segment, Education loan, etc. which are not general ones but applies specifically to people who are exposed to these segments, will be covered in future articles.
In case you have any queries on the specific Income tax deduction, you may post your query in the comments section.
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