Home > Income Tax > Help Center > EZTax Deductions HelpLast Updated: Aug 29th 2022
How to declare Investments & Deductions?
Another important declaration to be made during IT filing is about Tax Deductions. EZTax.in is providing a comprehensive tax deduction questionnaire to maximize tax savings. The deductions are useful to reduce the total taxable income under chapter VI-A from section 80C to 80TTA, 80TTB.
Investments and Deductions Declaration Explained
EZTax Providing all types of Investments and Deductions(80C to 80TTA, 80TTB), the investments include provident fund, public provident fund, LIC, ELSS, NPS, Post office or Fixed deposit for 5 years etc., in addition to donations, children school fee, medical claim etc. Limitations are applicable for every deduction like 80C Rs.1.5 lakh and NPS Rs.50K, EZTax.in field level help will guide you on those limitations.
Tax Saving Investment Details (Section 80C): The total limit for this screen is Rs.2,00,000 (50k NPS + all other) and in addition to 2Lakhs 10 % salary extra from NPS u/s 80CCD-2
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| More Deductions from Section-80C: You have declare all the investments or deductions like mutual funds or Equity Linked Savings Scheme, NSC (National saving certificate), Post office or fixed deposit for 5 years, pension polices, NPS, sukanya samriddhi, and etc. All the deductions maximum limit u/s 80C is Rs.1,50,000, and for employee's contribution to National Pension Scheme limit u/s 80CCD-1B is 50K, and for employer's contribution to National Pension Scheme limit u/s 80CCD-2 is 10% of salary. | |
| Save: After completion of declaration of all the data you can simply click save. | |
| Remind: If you have any doubts in any amount declaration, simply click on the reminder it will reminds before filing the return. |
Declaration of Health Insurance Explained
Health insurance is different for self-family and parents family, you can claim insurance amount paid for both families. And it is vary for normal citizen and senior citizen, and EZTax field level help will guide you the limits & declaration of health insurance
| Family Health Insurance Details (Section 80D): In this you can enter the insurance amount and preventive health check-up amount paid on your family. | |
| Parents Health insurance Details (Section 80D): In this you can enter the insurance amount and preventive health check-up amount paid on your parents family. | |
| Save: After entering all the data please click on the save button. |
Declaration of Other Deductions Explained
Other Deductions that are less common under Section 80CCG, 80DDB, 80E, 80EE, 80GG, 80TTA, 80TTB within a Financial Year
| Other Deductions: If you have any other deduction like Education loan, Rent paid, Savings or FD interest deduction, treatment of specified diseases and ailments, house loan additional exemption with the extent of rules and etc. | |
| Section 80TTA+80TTB: EZTax will automatically extract the applicable amount of savings or FD interest into 80TTA/80TTB | |
| Save: After completion of all the declaration of all the amount please click on save button |