Here’s a detailed list of all the major deductions available for income taxpayers in India under the Income Tax Act, 1961:

1. Section 80C – Deductions for Investments

• Maximum Deduction: ₹1,50,000 per financial year.
• Eligible Investments:
  • Employee Provident Fund (EPF): Contributions made by salaried employees.
  • Public Provident Fund (PPF): Contributions to PPF accounts.
  • National Savings Certificate (NSC): Investment in NSC issued by post offices.
  • Life Insurance Premiums: Premiums paid for self, spouse, and children.
  • Equity Linked Savings Scheme (ELSS): Mutual fund investments eligible for tax benefits.
  • Sukanya Samriddhi Yojana: Investments in accounts opened for girl children.
  • Principal Repayment on Home Loan: The principal portion of home loan repayments.
  • 5-Year Fixed Deposit: Tax-saving FD in scheduled banks.
  • Tuition Fees: Fees paid for the education of up to two children.

2. Section 80CCC – Deduction for Pension Funds

• Maximum Deduction: Part of the overall limit of ₹1,50,000 under Section 80C.
• Eligible Investments: Payments made towards annuity plans of insurance companies like LIC.

3. Section 80CCD – Deduction for National Pension Scheme (NPS)

• 80CCD(1): Employee’s/self-contribution towards the National Pension Scheme.
  • Maximum Deduction: ₹1,50,000 (combined with Section 80C).
  • Limit: 10% of salary for salaried employees and 20% of gross total income for self-employed.
• 80CCD(1B): Additional deduction of ₹50,000 for contributions to NPS (over and above 80C).
• 80CCD(2): Employer’s contribution to NPS (up to 10% of salary), which is exempt from the total limit of ₹1,50,000 under 80C.

4. Section 80D – Deduction for Medical Insurance Premium

• For Individuals:
  • Self, Spouse, and Children: ₹25,000 for medical insurance.
  • Parents: ₹25,000 additional deduction if parents are below 60 years.
  • Parents above 60 years: ₹50,000 deduction.
  • If both taxpayer and parents are above 60 years: The total deduction limit can go up to ₹1,00,000.
• Preventive Health Check-up: Deduction of up to ₹5,000 is available within the overall limit.

5. Section 80DD – Deduction for Maintenance and Medical Treatment of Disabled Dependent

• For Disability (40%-80%): ₹75,000.
• For Severe Disability (above 80%): ₹1,25,000.
• Eligibility: Expenses incurred for the medical treatment or deposits into insurance schemes for a disabled dependent.

6. Section 80DDB – Deduction for Medical Treatment of Specified Diseases

• Age below 60: Deduction of up to ₹40,000.
• Age above 60: Deduction of up to ₹1,00,000.
• Eligibility: Expenses incurred for treatment of specified diseases such as cancer, AIDS, chronic renal failure, etc.

7. Section 80E – Deduction for Interest on Education Loan

• Maximum Deduction: No upper limit.
• Eligibility: Deduction is available on the interest paid on education loans taken for higher education for self, spouse, children, or any student for whom the taxpayer is a legal guardian.
• Duration: Available for 8 consecutive years from the start of repayment.

8. Section 80EE – Deduction on Interest for First-time Home Buyers

• Maximum Deduction: ₹50,000.
• Eligibility: Available on home loans sanctioned between April 1, 2016, and March 31, 2017.
• Conditions:
  • Value of the house should not exceed ₹50 lakh.
  • Loan amount should not exceed ₹35 lakh.
  • Deduction is over and above ₹2,00,000 available under Section 24(b) (interest on home loan).

9. Section 80EEA – Deduction for Interest on Home Loan for Affordable Housing

• Maximum Deduction: ₹1,50,000.
• Eligibility: For loans sanctioned between April 1, 2019, and March 31, 2022.
• Conditions:
  • Stamp duty value of the house should not exceed ₹45 lakh.
  • The taxpayer should not own any other residential property at the time of loan sanction.

10. Section 80G – Deduction for Donations

• 100% or 50% deduction: Depending on the type of organization and cause.
  • 100% deduction without qualifying limit: National Defence Fund, PM National Relief Fund, etc.
  • 50% deduction: Certain approved organizations like NGOs, charitable institutions.
• Maximum Deduction: Cash donations exceeding ₹2,000 are not eligible for deduction; donations must be made via cheque, draft, or digital mode.

11. Section 80GG – Deduction for Rent Paid (If Not Receiving HRA)

• Maximum Deduction: Least of the following:
  1. ₹5,000 per month.
  2. 25% of the total income (excluding capital gains, deductions, and other income).
  3. Rent paid minus 10% of total income.
• Eligibility: For individuals who do not receive House Rent Allowance (HRA) and live in rented accommodation.

12. Section 80GGB – Deduction for Contributions to Political Parties (Companies)

• Maximum Deduction: No upper limit.
• Eligibility: Contributions made to political parties or electoral trusts by companies.

13. Section 80GGC – Deduction for Contributions to Political Parties (Individuals)

• Maximum Deduction: No upper limit.
• Eligibility: For individual taxpayers contributing to political parties or electoral trusts.

14. Section 80TTA – Deduction on Interest from Savings Account

• Maximum Deduction: ₹10,000.
• Eligibility: Available on interest earned from savings accounts held in banks, post offices, or co-operative societies.
• Not applicable for fixed deposits.

15. Section 80TTB – Deduction on Interest for Senior Citizens

• Maximum Deduction: ₹50,000.
• Eligibility: Available to senior citizens for interest earned on savings accounts, fixed deposits, and recurring deposits.

16. Section 80U – Deduction for Disabled Individuals

• For Disability (40%-80%): ₹75,000.
• For Severe Disability (above 80%): ₹1,25,000.
• Eligibility: Deduction is available to individuals who have been certified as disabled by medical authorities.

17. Section 24(b) – Deduction on Home Loan Interest

• Maximum Deduction: ₹2,00,000.
• Eligibility: Available on the interest component of home loan repayments for self-occupied property.
• Conditions:
  • Loan should be for the purchase or construction of the property.
  • Construction should be completed within 5 years from the end of the financial year in which the loan was taken.

Other Important Deductions:

• Section 10(14) – HRA (House Rent Allowance): Partially exempt depending on actual rent paid, basic salary, and the city of residence (metro/non-metro).
• Standard Deduction: ₹50,000 for salaried employees (automatically deducted).

These deductions help reduce the taxable income, and careful planning can significantly lower an individual’s tax liability. Be sure to verify eligibility and conditions before claiming them to avoid any errors or complications while filing your tax returns.

Here’s a detailed table of the deductions available to income taxpayers in India for easy understanding: