Deduction around Part 80GGC

In the event that elderly people otherwise very older persons contribute money so you’re able to a political party otherwise a keen electoral trust, brand new share could be welcome as a great deduction around Section 80GGC.

Deduction under Part 80RRB

If the a resident senior citizen or super senior have a good inserted patent and brings in royalty income towards such as for example patents, the latest royalty gotten is acceptance once the good deduction out of nonexempt earnings. As much royalty which would be anticipate once the an excellent deduction could be simply for INR 3 lakhs. Also, so you can claim the brand new deduction, the second requirements would be found by senior citizen or extremely senior citizen –

• He/she might be an Indian https://getbride.org/pt/mulheres-bulgaras-quentes/ citizen
• They should have joined the brand new patent with the otherwise once initially in Patents Act 1970
• So you’re able to claim the fresh new deduction this new senior citizen or super senior would need to complete a certificate(Form-10CCE) towards income tax government and also the certification can be closed because of the the newest recommended regulators
• The brand new senior citizen or very senior citizen must be the patentee

Deduction significantly less than Part 80TTB

Whether your citizen senior citizen or awesome senior citizen has made deposits in the a bank otherwise post-office, the interest gained to the such as for example dumps, as well as interest off savings account, repaired put techniques and you may post office put schemes could be allowed as a deduction in the possession of of senior citizen. Read more