Professional Answers on Investments
Insurance, Mutual Funds, Sensex, Nifty, Financial Planning
based on the what work u do
Pls make it more clear.
Your question is not clear. However for an employee working for a salary, the following are some of the exemption list as per IT rules.( please refer IT rules for latest updates)
Leave Travel Allowance ( once in 2 years)
Conveyance Allowance Rs.800 per month
Medical Allowance (upto Rs.15,000 per year)
Child Educational Allowance etc.
For more details browse incometaxindia website.
You have got following exemptions as a salaried individual:
1. HRA exemption under Section 10
2. Leave Travel Allownace exemption under Section 10
3. Medical Bills exemption under Section 10
4. Conveyance exemption under Section 10
5. Exemptions under section 80C, which include invesment in LIC, PPF, NSC, ELSS, Principal payment on a home loan etc.
6. Loss on house property which include interest paid on a home loan
7. Under section 80D, Mediclaim insurance
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