GK
TAXES IN INDIA
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The quantum of deduction allowed u/s 80U is :
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Rs. 20,000
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Rs. 40,000
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Rs. 50,000
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Rs. 70,000
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Explanation:
Detailed explanation-1: -75, 000 is allowed for people with disabilities, and Rs. 1, 25, 000 deduction for people with severe disability.
Detailed explanation-2: -Section 80C is one of the most popular and favourite sections amongst the taxpayers as it allows to reduce taxable income by making tax saving investments or incurring eligible expenses. It allows a maximum deduction of Rs 1.5 lakh every year from the taxpayers total income.
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