Contribution into the cash is not allowed because the deduction
Deduction below Part 80GGC
In the event the seniors or extremely seniors lead currency in order to a great governmental people or an electoral trust, the newest sum could be greet due to the fact a beneficial deduction less than Part 80GGC.
Deduction significantly less than Section 80RRB
In the event the a resident senior otherwise awesome senior citizen enjoys a good registered patent and you may earns royalty revenues into the particularly patents, new royalty obtained is welcome since the a good deduction out-of taxable income. The maximum amount of royalty which could be invited since a deduction is restricted to INR step three lakhs. Also, to claim brand new deduction, another conditions should be came across by the senior citizen otherwise super senior –
- She or he will likely be a keen Indian citizen
- They should have registered the fresh patent on or immediately after initial according to the Patents Operate 1970
- In order to allege the new deduction the latest senior citizen or awesome senior citizen would have to fill in a certification(Form-10CCE) with the tax authorities therefore the certificate are going to be closed of the the newest recommended bodies
- The new senior citizen or very senior should be the patentee
Deduction around Area 80TTB
In case the citizen senior otherwise extremely senior citizen made deposits in the a bank otherwise post-office, the attention received on the such as for example deposits, and additionally attract regarding checking account, fixed put plans and you may postoffice senhoras MalГЎsia solteiras deposit techniques is greet due to the fact good deduction in the possession of of senior. Read more