18 Post-Budget Tips to Save Your Taxes

6. Section 80DDB

Through this, an individual can avail for tax deductions for treatment specific type of diseases like Aids, cancer, etc.

An individual less than 65 years will get tax deduction of Rs.40, 000 and if the individual is more than 65 years of age he will get tax deduction of Rs.60, 000.

Here is a list of diseases that are covered under Section 80DDB.

a) Neurological Diseases
b) Parkinson’s Disease
c) Malignant Cancers
d) Acquired Immune Deficiency Syndrome (AIDS)
e) Chronic Renal failure
f) Hemophilia
g) Thalassaemia

7. Section 80E

Education loans are the most convenient option for those who want to meet their cost of higher education. Higher education includes all the classes after 12 and should be from a recognized university.

Under section 80e of the income tax Act, the person who avail has an education loan will be eligible for tax deduction. Even the entire amount of interest an individual has paid towards the education loan can be used to claim tax deduction.

8. Section 80G

Tax deduction under Section 80G is allowed if you are giving funds to charitable institutions. It includes individuals who are HUF, NRI or a company.

The percent of tax deductions depend upon the charitable institution that you have donated to.

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