Individual having Income from Business / Profession for AY 2026-2027

Returns Applicable to Individual having Income from Business / Profession for AY 2026-27

Disclaimer: The content on this page is only to give an overview and general guidance and is not exhaustive. For complete details and guidelines, please refer to the Income Tax Act,1961 Rules and Notifications.

1. ITR-3 - Applicable for Individual & HUF

This return is applicable for Individual & Hindu Undivided Family (HUF);

Having Income under the heads Salary/Pension, House Property, Profits or Gains of Business or Profession, Capital Gains or Income from Other sources.

Who is not eligible for filing ITR-1, ITR-2 or ITR-4

2. ITR-4 (SUGAM) – Applicable for Individual, HUF & Firm (Other than LLP)

This return is applicable for an Individual or Hindu Undivided Family (HUF), who is Resident other than not ordinarily Resident or a Resident Firm (other than LLP) having total Income up to ₹ 50 lakh and having income from Business or Profession which is computed on a presumptive basis (u/s 44AD / 44ADA / 44AE of Income Tax Act,1961) and income from any of the following sources:

Salary / Pension

Other sources (Interest, Family Pension, Dividend etc.)

Agricultural Income up to ₹ 5,000

Capital Gain Income u/s 112A of Income Tax Act,1961 up to upto ₹ 125000

Note:1

ITR-4 cannot be used by a person who:

(a) is a Director in a Company, or

(b) has short term Capital gains

(d) has held any unlisted equity shares at any time during the previous year

(e) has any asset (including financial interest in any entity) located outside India, or

(f) has signing authority in any account located outside India, or

(g) has income from any source outside India,

(h) is a person in whose case payment or deduction of tax has been deferred on ESOP

(i) who has brought any loss or loss to be carried forward under any head of income; or

(j) has total income exceeding Rs. 50 lakhs.

(k) have income from retirement benefit account maintained in a notified country u/s 89A.

(l) have income from retirement benefit account maintained in a country other than notified country u/s 89A.

(m) have any income chargeable at special rate.

Note:2

Form ITR-4 (SUGAM) is not mandatory. It is a simplified return form to be used by an assessee, at his / her option, if he / she is eligible to declare Profits and Gains from Business or Profession on presumptive basis under Section 44AD, 44ADA or 44AE of Income Tax Act,1961.

Forms Applicable as per Income Tax, 1961

Provided by	Details provided in the form
Deductor to Deductee	Form 16A is a Tax Deducted at Source (TDS) Certificate issued quarterly that captures the amount credited, amount of TDS, Nature of Payments and the TDS Payments deposited with the Income Tax Department.

2. Form 26 AS

AIS (Annual information Statement)

Provided by:

Income Tax Department (It is available on e-Filing Portal:

Provided by:

Income Tax Department (It can be accessed after logging on to Income Tax e-Filing portal)

Go to e-filing portal > login > AIS

Details provided in the form:

Tax Deducted / Collected at Source.

Details provided in the form:

Tax Deducted / Collected at Source
SFT Information
Payment of taxes
Demand / Refund

Other information (like Pending/Completed proceedings, GST Information, Information received from foreign government etc.)

Submitted by

Details provided in the form

Taxpayer who is required to get his / her accounts audited by an accountant u/s 44AB.

To be furnished atleast one month before the due date for furnishing the return of income under sub-section (1) of section 139 of Income Tax Act,1961.

Report on Audit of Accounts (Form 3CB) and Statement of Particulars (Form 3CD) required to be furnished under Section 44AB of the Income Tax Act, 1961

Submitted by	Details provided in the form
A Resident Individual less than 60 years or HUF or any other Person (other than Company / Firm) to bank for not deducting TDS on Interest Income if the income is below basic exemption limit.	Estimated Income for the FY

Submitted by	Details provided in the form
A Resident Individual, 60 years or more to bank for not deducting TDS on Interest Income.	Estimated Income for the FY

Submitted by

Details provided in the form

Taxpayer who enters into an international transaction or specified domestic transactions is required to obtain a report from a chartered accountant u/s 92E of Income Tax Act,1961.

To be furnished atleast one month before the due date for furnishing the return of income under sub-section (1) of section 139 of Income Tax Act,1961.

Report from a Chartered Accountant containing details of all international transaction(s) and specified domestic transaction(s)

Tax Slabs for AY 2026-27***

New Tax Regime Vs Old Tax Regime

The Finance Act 2023 has amended the provisions of Section 115BAC w.e.f AY 2024-25 to make new tax regime the default tax regime for the assessee being an Individual, HUF, AOP (not being co-operative societies), BOI or Artificial Juridical Person. However, the eligible taxpayers have the option to opt out of default tax regime and choose to be taxed under old tax regime The old tax regime refers to the system of income tax calculation and slabs that existed before the introduction of the new tax regime. In the old tax regime, taxpayers have the option to claim various tax deductions and exemptions.

Non-business Cases:

In "non-business cases", option to change the default tax regime can be exercised every year directly in the ITR and such ITR is required to be filed on or before the due date specified under section 139(1) of Income Tax Act,1961.

Business Cases

In case of eligible taxpayers having income from business and profession if taxpayer wants to opt out of default tax regime, they can furnish Form-10-IEA on or before the due date u/s 139(1) of Income Tax Act,1961 for furnishing the return of income. Also, for the purpose of withdrawal of such option i.e. re-entering into new tax regime shall also be done by way of furnishing Form No.10-IEA on or before the due date specified u/s 139(1) for furnishing return of income . However, option to withdraw old tax regime and re-entering into default tax regime is available only in subsequent AY and only once in lifetime for eligible taxpayers having income from business and profession.

Tax Slabs:

Tax rates for Individual (resident or non-resident) less than 60 years of age anytime during the previous year are as below:

Old Tax Regime		Default Tax Regime u/s 115BAC of income tax Act, 1961
Income Tax Slab	Income Tax Rate	Income Tax Slab	Income Tax Rate
Up to ₹ 2,50,000	Nil	Up to ₹ 4,00,000	Nil
₹ 2,50,001 - ₹ 5,00,000**	5% above ₹ 2,50,000	₹ 4,00,001 - ₹ 8,00,000	5% above ₹ 4,00,000
₹ 5,00,001 - ₹ 10,00,000	₹ 12,500 + 20% above ₹ 5,00,000	₹ 8,00,001 - ₹ 12,00,000	₹ 20,000 + 10% above ₹ 8,00,000
Above ₹ 10,00,000	₹ 1,12,500 + 30% above ₹ 10,00,000	₹ 12,00,001 - ₹ 16,00,000	₹ 60,000 + 15% above ₹ 12,00,000
		₹ 16,00,001 - ₹ 20,00,000	₹ 1,20,000 + 20% above ₹ 16,00,000
		₹ 20,00,001 - ₹ 24,00,000	₹ 2,00,000 + 25% above ₹ 20,00,000
		Above ₹ 24,00,000	3,00,000 + 30% above ₹ 24,00,000

Tax rates for Individual (resident or non-resident), 60 years or more but less than 80 years of age anytime during the previous year are as under:

Old Tax Regime		New Tax Regime u/s 115BAC of Income Tax Act ,1961
Income Tax Slab	Income Tax Rate	Income Tax Slab	Income Tax Rate
Up to ₹ 3,00,000	Nil	Up to ₹ 4,00,000	Nil
₹ 3,00,001 - ₹ 5,00,000**	5% above ₹ 3,00,000	₹ 4,00,001 - ₹ 8,00,000	5% above ₹ 4,00,000
₹ 5,00,001 – ₹ 10,00,000	10,000 + 20% above ₹ 5,00,000	₹ 8,00,001 - ₹ 12,00,000	₹ 20,000 + 10% above ₹ 8,00,000
Above ₹ 10,00,000	₹ 1,10,000 + 30% above ₹ 10,00,000	₹ 12,00,001 - ₹ 16,00,000	₹ 60,000 + 15% above ₹ 12,00,000
		₹ 16,00,001 - ₹ 20,00,000	₹ 1,20,000 + 20% above ₹ 16,00,000
		₹ 20,00,001 – ₹ 24,00,000	₹ 2,00,000 + 25% above ₹ 20,00,000
		Above ₹ 24,00,000	₹ 3,00,000 + 30% above ₹ 24,00,000

Tax rates for Individual (resident or non-resident) 80 years of age or more anytime during the previous year are as under:

Old Tax Regime		New Tax Regime u/s 115BAC of Income Tax Act ,1961
Income Tax Slab	Income Tax Rate	Income Tax Slab	Income Tax Rate
Up to ₹ 5,00,000	Nil	Up to ₹ 4,00,000	Nil
₹ 5,00,001 - ₹ 10,00,000	20% above ₹ 5,00,000	₹ 4,00,001 - ₹ 8,00,000**	5% above ₹ 4,00,000
Above ₹ 10,00,000	₹ 1,00,000, + 30% above ₹ 10,00,000	₹ 8,00,001 - ₹ 12,00,000	₹ 20,000 + 10% above ₹ 8,00,000
		₹ 12,00,001 - ₹ 16,00,000	₹ 60,000 + 15% above ₹ 12,00,000
		₹ 16,00,001 - ₹ 20,00,000	₹ 1,20,000 + 20% above ₹ 16,00,000
		₹ 20,00,001 - ₹ 24,00,000	₹ 2,00,000 + 25% above ₹ 20,00,000

Applicable Surcharge Rates:

Income Limit	Surcharge Rate on the amount of Income Tax (New Tax Regime)	Surcharge Rate on the amount of Income Tax (Old Tax Regime)
Up to Rs. 50 lakhs	Nil	Nil
Rs. 50 lakhs to Rs. 1 Crore	10%	10%
Rs. 1 Crore to Rs. 2 Crores	15%	15%
Rs. 2 Crores to Rs. 5 Crores	25%	25%
Above Rs. 5 Crores	25%	37%

Note: The enhanced surcharge of 25% & 37%, as the case may be, is not levied, from income charge to tax under sections 111A, 112, 112A and Dividend Income. Hence, the maximum rate of surcharge on tax payable on such incomes shall be 15%, except when the income is taxable under section 115A, 115AB, 115AC, 115ACA and 115E.

Applicable Rebate u/s 87A of income Tax Act,1961: Resident Individuals are also eligible for a Rebate of up to 100% of income tax subject to a maximum limit depending on tax regimes as under:

Tax regime	Rebate Limit	Rebate condition
New Tax Regime	₹ 60,000	Taxable income shall not exceed 12,00,000
Old Tax Regime	₹ 12,500	Taxable income shall not exceed 5,00000

***Note : Health & Education cess @ 4% to be paid on the amount of income tax plus Surcharge (if any) in both the regimes.

Marginal relief can also be claimed from surcharge if the amount of income earned exceeding ₹ 50 lakhs, ₹ 1 crore, ₹ 2 crores or ₹ 5 crores respectively under old tax regime and the amount of income earned exceeding ₹ 50 lakhs, ₹ 1 crore, ₹ 2 crores respectively under new tax regime as under:

Total Income	Old Tax Regime	New Tax Regime
	Rebate under Section 87A Applicable
Up to Rs. 5 Lakh	Tax rebate up to Rs.12,500 is applicable for resident individuals if the total income does not exceed Rs 5,00,000 (not applicable for NRIs)	Tax rebate up to Rs.20,000 is applicable for resident individuals if the total income does not exceed Rs 7,00,000 (not applicable for NRIs)
From 5 Lakhs to 7 Lakhs	NIL

***Note : Health & Education cess @ 4% to be paid on the amount of income tax plus Surcharge (if any) in both the regimes.

Marginal relief can also be claimed from surcharge if the amount of income earned exceeding ₹ 50 lakhs, ₹ 1 crore, ₹ 2 crore or ₹ 5 crores respectively under old tax regime and the amount of income earned exceeding ₹ 50 lakhs, ₹ 1 crore, ₹ 2 crore respectively under new tax regime as under:

Net Income Marginal relief

Range

Exceeds (Rs.)	Does not exceed (Rs.)
50 Lakh	1 Crore	Amount payable as income tax and surcharge shall not exceed the total amount payable as income tax on total income of Rs 50 Lakh by more than the amount of income that exceeds Rs 50 Lakhs under both the tax regimes.
1 Crore	2 Crores	Amount payable as income tax and surcharge shall not exceed the total amount payable as income-tax on total income of Rs. 1 crore by more than the amount of income that exceeds Rs. 1 crore under both the tax regimes.
2 Crores	5 Crores	Amount payable as income tax and surcharge shall not exceed the total amount payable as income-tax on total income of Rs. 2 crores by more than the amount of income that exceeds Rs. 2 crores under both tax regimes.
5 Crores	–	Amount payable as income tax and surcharge shall not exceed the total amount payable as income-tax on total income of Rs. 5 crores by more than the amount of income that exceeds Rs. 5 crores. under old tax regime.

Investments / Payments / Incomes on which tax benefit is available

Deductions will be available to a taxpayer opting for the New Tax Regime u/s 115BAC of Income Tax Act,1961:

Section 24(b) – Deduction from Income from House Property on interest paid on housing loan:

Nature of Property	Purpose of loan	Allowable (Maximum limit)	Details Required to fill in ITR
Let Out	Construction or purchase of house property	Actual value without any limit (But loss if any under the head “Income from house property” can not be set off against any other heads in schedule CYLA and cannot be carry forward to further years )	Loan taken from bank / other than bank • Name of the bank / institution / person from whom the loan is taken • Loan Account Number of the bank / institution . • Date of sanction of loan • Total Amount of loans • Loan outstanding as on last date of financial year • Interest on borrowed capital u/s 24(b)

2.Tax deductions specified under Chapter VIA of the Income Tax Act ,1961

Section 80CCD(2)

Deduction towards contribution made by an employer to the Pension Scheme of Central Government

For"Central Govt" or "State Govt" or "PSU" or "Others"

Deduction limit of 14% of salary

80CCH

Deduction in respect of contribution to Agnipath Scheme

Where an assessee, being an individual enrolled in the Agnipath Scheme and subscribing to the Agniveer Corpus Fund on or after the 1st day of November, 2022, has in the previous year paid or deposited any amount in his account in the said fund

Allowed a deduction in the computation of total income, of the whole of the amount so paid or deposited

Where the Central Government makes any contribution to the account of an assessee in the Agniveer Corpus Fund

Allowed a deduction in the computation of total income of the whole of the amount so contributed

Deductions in the Old Tax Regime as per Income Tax Act,1961

Section 24(b) – Deduction from Income from House Property on interest paid on housing loan & housing improvement loan. In case of self- occupied property, the upper limit for deduction of interest paid on housing loan is ₹ 2 lakh. Interest on loan u/s 24(b) allowable is tabulated below:

Nature of Property	When loan was taken	Purpose of loan	Allowable (Maximum limit)	Details Required
Self-Occupied	On or after 1/04/1999	Construction or purchase of house property	₹ 2,00,000	Loan taken from bank / other than bank • Name of the bank / institution / person from whom the loan is taken • Loan Account Number of the bank / institution . • Date of sanction of loan • Total Amount of loans • Loan outstanding as on last date of financial year • Interest on borrowed capital u/s 24(b)
	On or after 1/04/1999	For Repairs of house property	₹ 30,000
	Before 1/04/1999	Construction or purchase of house property	₹ 30,000
	Before 1/04/1999	For Repairs of house property	₹ 30,000
Let Out	Any time	Construction or purchase of house property	Actual value without any limit Maximum loss allowed to set off during the AY is Rs. 2,00,000 against other heads of income and balance can be carry forward to future years up to 8 Assessment years.

deductions specified under Chapter VIA of the Income Tax Act , 1961

New Tax Deductions Header

Section 80C, 80CCC, 80CCD (1)

Deduction towards payments made to

80C	Life Insurance Premium Provident Fund Subscription to certain equity shares Tuition Fees National Savings Certificate Housing Loan Principal Other various items content2 content3
80CCC	Annuity plan of LIC or another insurer towards Pension Scheme
80CCD(1)	Pension Scheme of Central Government

Combined deduction limit of ₹ 1,50,000

Details to be filled in ITR for each eligible payment :

Policy number or document identification number
Amount eligible for deduction u/s 80C

New Tax Deductions

Section 80CCD(1B)

(1)Deduction towards payments made to Pension Scheme of Central Government, excluding deduction claimed under 80CCD (1)

2)The Deduction under this sub-section shall also be allowed, where any payment or deposit is made to the account of a minor under the pension scheme referred to in the said sub-section, by the assessee, being the parent or guardian of such minor,

Deduction limit of ₹ 50,000

Note:

1. Taxpayers claiming a deduction u/s 80 C, must provide the details as below:

Amount eligible for deduction
Policy no. or Document identification No.

2. Taxpayers claiming a deduction u/s 80CCC, 80 CCD (1),80 CCD (1B) must provide the details as below:

Type of Identifier
Name of Identifier
Amount

Section 80CCD(2)

If the Employer is a PSU or Others

Deduction limit of 10% of salary

If the Employer is Central or State Government

Deduction limit of 14% of salary

Section 80CCH

Deduction in respect of contribution to Agnipath Scheme

Allowed a deduction in the computation of total income, of the whole of the amount so paid or deposited

Where the Central Government makes any contribution to the account of an assessee in the Agniveer Corpus Fund

Allowed a deduction in the computation of total income of the whole of the amount so contributed

Section 80D

Deduction towards payments made to Health Insurance Premium & Preventive Health check up

For Self / Spouse or Dependent Children

₹ 25,000 (₹ 50,000 if any person is a Senior Citizen)

₹ 5,000 for preventive health checkup, included in above limit

For Parents

₹ 25,000 (₹50,000 if any person is a Senior Citizen)

₹ 5,000 for preventive health checkup, included in above limit

Deduction towards Medical Expenditure incurred on a Senior Citizen, if no premium is paid on health insurance coverage

For Self/Spouse or Dependent Children

Deduction limit of ₹ 50,000

For Parents

Deduction limit of ₹ 50,000

Note:

Taxpayers claiming deduction u/s 80 D, must provide the details as below:
•  Name of the Insurer (Insurance Company)
•  Policy Number
•  Health Insurance amount

Section 80DD

Deduction towards payments made towards maintenance or medical treatment of a Disabled Dependent or Paid / Deposited any amount under relevant approved scheme

Flat deduction of
₹ 75,000
available for a person with Disability, irrespective of expense incurred.

The deduction is
₹ 1,25,000
if the person has Severe Disability (80% or more).=

Note:

For claiming deduction u/s 80 DD below details need to be provided in ITR :

Nature Of Disability
Type of Disability
Amount of Deduction
Type of dependent
PAN of the Dependent
Aadhaar of the Dependent
Acknowledgement no. of form 10 IA filed in case of autism, cerebral palsy, or multiple disabilities.
UDID number (if available)

Section 80DDB

Deduction towards payments made towards Medical treatment of Self or Dependent for specified diseases

Deduction limit of
₹ 40,000
(₹ 1,00,000 if Senior Citizen)

Please note : For claiming deduction u/s 80DDB, below details need to be provided in ITR:

Type of User
Name of specified disease
Amount

Section 80E

Deduction towards interest payments made on loan for higher education of Self or relative

Total amount paid towards interest on loan taken

Note:

For claiming deduction under section 80E, details below needs to be provided in ITR :

Loan taken from bank / institution
Name of the institution / bank from which the loan is taken
Loan Account Number of the bank.
Date of sanction of loan
Total Amount of loans
Loan outstanding as on last date of financial year
Interest u/s 80E

Section 80EE

Deduction towards interest payments made on loan taken for acquisition of residential house property where the loan is sanctioned between 1st April 2016 to 31st March 2017

Deduction limit of
₹ 50,000
on the interest paid on loan taken

Note:

For claiming deduction under section 80EE,below details need to be provided in ITR:

Loan taken from bank / institution
Name of the bank / institution from which the loan is taken
Loan Account Number of the bank / institution .
Date of sanction of loan
Total Amount of loans
Loan outstanding as on last date of financial year
Interest u/s 80EE

Section 80EEA

Deduction available only to individuals towards interest payments made on loan taken for acquisition of residential house property for the first time where the loan is sanctioned between 1st April 2019 to 31st March 2022 & deduction should not have been claimed u/s 80EE

Deduction limit of
₹ 1,50,000
on the interest paid on loan taken

Note:

For claiming deduction under section 80EEA,below details need to be provided in ITR:

Loan taken from bank / institution
Name of the bank / institution from which the loan is taken
Loan Account Number of the bank / institution .
Date of sanction of loan
Total Amount of loans
Loan outstanding as on last date of financial year
Interest u/s 80EE

Note that the deduction u/s 80EEA can be claimed only if the limit in section 24(b) is exhausted. Also, either 80EE or 80EEA can be claimed by taxpayers based on loan sanction date and other eligible conditions.

Deduction towards interest payments made on loan for purchase of Electric Vehicle where the loan is sanctioned between 1st April 2019 to 31st March 2023

Deduction limit of
₹ 1,50,000
on the interest paid on loan taken

Deduction of Value

Note:

For claiming deduction under section 80EEB, below details need to be provided in ITR

Name of the bank / institution from which loan is taken
Loan Account Number of the bank / institution
Date of sanction of loan
Total amount of loan
Loan outstanding as on last date of financial year
Vehicle registration number
Interest u/s 80EEB

Section 80G

Deduction towards Donations made to prescribed Funds, Charitable Institutions, etc.

Donations are eligible for deduction under the below categories

Without any limit

100% deduction

Subject to qualifying limit 100% deduction 50% deduction

Note: No deduction shall be allowed under this section in respect of donations made in cash exceeding ₹ 2000/-

Section 80GG

Deduction towards rent paid for house & applicable to only those who are self-employed or for whom HRA is not part of Salary

Least of the following shall be allowed as deduction

Rent paid reduced by 10% of Total Income before this deduction

₹ 5,000 per month

25% of Total Income (excluding long term capital gains, short term capital gains under section 111A or income under section 115A or 115D)

Note: For claiming deduction u/s 80GG,it is mandatory to file Form10 BA and enter the (acknowledgement number.) of Form 10 BA in Schedule 80 GG while filing the return of Income

Section 80GGA

Deduction towards Donations made for Scientific Research or Rural Development

Donation are eligible for deduction under the following categories:

Research Association or University, College or other Institution for

Scientific Research
Social Science or Statistical Research

Association or Institution for

Rural Development
Conservation of Natural Resources or for Afforestation

PSU or Local Authority or an association or institution approved by the National Committee for carrying out any eligible project

Funds notified by Central Government for

Afforestation
Rural Development

National Urban Poverty Eradication Fund as setup and notified by Central Government

Note: No deduction shall be allowed under this Section in respect of donations made in cash exceeding ₹ 2000/- or if Gross Total Income includes income from Profit / Gains of Business / Profession or if the partner is deriving remuneration or interest on capital from partnership firm.

Section 80GGC

content of the top section

Deduction in respect of profits of an undertaking referred to in section 80-IA(4)(iv) [Power]

100% of profit for 10 consecutive AYs falling within a period of 15 AY beginning with the AY in which assessee develops / begins operating and maintaining infrastructure facility.

No deduction shall be allowed to any enterprise which starts the development or operation and maintenance of the infrastructure facility on or after the 1st day of April, 2017. (No deduction shall be allowed if development, operation, etc. started after specified dates for specified business)

80IA

Deduction in respect of profits of an undertaking referred to in section 80-IA(4)(iv) [Power]

	100% of profit for 10 consecutive AYs falling within a period of 15 AY beginning with the AY in which assessee develops / begins operating and maintaining infrastructure facility.
	No deduction shall be allowed to any enterprise which starts the development or operation and maintenance of the infrastructure facility on or after the 1st day of April, 2017. (No deduction shall be allowed if development, operation, etc. started after specified dates for specified business)

80IB

Deduction towards Profits and Gains from specified industrial undertakings other than infrastructure development undertakings:

The deduction under this section is available to an assessee whose Gross Total Income includes any Profits and Gains derived from the business of an:

undertaking which begins commercial production or refining of mineral oil [Section 80-IB(9)

undertaking developing and building housing projects [Section 80-IB(10)

undertaking engaged in processing, preservation and packaging of fruits, vegetables, meat, meat products, poultry, marine or dairy products [Section 80-IB(11A)

undertaking engaged in integrated business of handling, storage and transportation of food grains [Section 80-IB(11A)]

(Subject to certain conditions)

80IE

Content of the field

Deduction to certain Undertakings set up in North- Eastern states

(subject to certain conditions)

100% of profits for 10 AY subject to various conditions specified

80JJA

Deduction in respect of Profits and Gains from Business of Collecting and Processing of Biodegradable Waste

(subject to certain conditions)

100% of profits from activity of collecting, processing and treating bio degradable waste for 5 consecutive AYs

Deduction of Value2

80JJAA

Deduction in respect of Employment of New Workers / Employees, applicable to assessee to whom Section 44AB applies

(subject to certain conditions)

30% of additional employee cost for 3 AY, subject to certain conditions

80QQB

Deduction in respect of Resident Authors of certain Books other than Textbooks

Income derived by way of Royalty by an Author / Joint Author up to a maximum of ₹ 3 lakh, subject to other conditions

Note: Deduction claimed here cannot be claimed elsewhere in the Income Tax Act.

80RRB

Deduction for Resident Individuals in respect of Royalty on Patents

First Inventor / Co-owner under the Patents Act, 1970 earning income by way to Royalty up to the amount of Royalty or ₹ 3 lakh (whichever is lesser)

Note: Deduction claimed here cannot be claimed elsewhere in the Income Tax Act.

Section 80TTA

Deduction on interest received on saving bank accounts by Non-Senior Citizens

Deduction limit of
₹ 10,000/-

Section 80TTB

Deduction on interest received on deposits by Resident Senior Citizens

Deduction limit of
₹ 50,000/-

Section 80U

Deductions for a resident individual taxpayer with Disability

Flat ₹ 75,000 deduction for a person with Disability, irrespective of expense incurred

Flat ₹ 1,25,000 deduction for a person with Severe Disability (80% or more), irrespective of expense incurred

Note:

Taxpayers claiming deduction u/s 80 DD or 80U, must provide the details below in ITR:

Nature Of Disability
Type of Disability
Amount of Deduction
PAN of Dependent
Aadhaar of Dependent
Acknowledgement no. of form 10 IA filed