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Trick to Remember Section 80 Deductions | Mnemonic Codes |IPCC FINAL TAX NOTES MAY NOV 2017
Remembering all the Income Tax Section 80 Deductions is no mean task.
There are such instances where students get confused with one section number with the other section numbers. This leads to much bigger problems.
To solve this confusion to some extent, We are providing the list of Section 80 Deductions along with the Mnemonic code to remember them.
Mnemonic Code for Section 80 Deductions:
80D se dawai
80E se education
se Garib gov. Ko donation
dependent dukhi bimar
gadhe ghode (donation to politicial party) charao by foriegn co.
gadhe ghode (donation to politicial party) banao by indian
Gaav development with science
quality quality Books
royalty to resident
Section 80 Deductions Quick Revision Before Exam:
80C [Contribution to PPF, LIC etc]
80CCC [Pension Funds] and 80CCD(1):
Rs.1,50,000 Deduction for the above two.
80CCG [Investment in Equity Savings]
50% of amount invested
Whichever is lower
80DD [Maintenance and Medical Treatment of Disabled dependent]:
Flat Deduction of Rs.75,000 (In case of severe disability i.e., 80%, Deduction is Rs.1,25,000]
80D [Medical Insurance Premium]
Rs.25,000 allowed (Rs.30,000 in case of senior citizen)
80DDB [Medical treatment for specified diseases]:
Rs.40,000 for Normal Individuals
Rs.60,000 for Senior Citizens
Rs.80,000 for Super Senior Citizens
80E [Interest on Educational Loan]:
Deduction allowed in Initial Assessment Year and 7 preceeding years.