Deductions from Your Income

For savings income tax on your taxable income the Income tax Law provides for various deductions.


The total income as computed under different heads of income and after set-off of losses, etc. has to be further reduced by certain deductions as per Chapter VIA in the IT Act, which have been amended from time to time. The deductions for AY 2012-2013 and AY 2013-2014 are described below.
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