Deductions u/s80 Quiz

What is the limit on deductions for investments under section 80C?

• Rs. 1.5 lakh

• Rs. 2 lakh

• Rs. 2.5 lakh

• Rs. 1 lakh

What conditions must be met to claim deductions under section 80D for health insurance premiums?

• Conditions to claim deductions under section 80D for health insurance premiums include payment for self, spouse, dependent children, or parents, non-cash payment mode, and varying deduction limits based on age and premium.

• Deductions are available for any type of insurance premiums

• There is no limit on the deduction amount

• Payment for pets qualifies for deductions

What documentation is required to claim deductions under section 80G for donations?

• A handwritten note from a friend confirming the donation

• A screenshot of a social media post mentioning the donation

• An email from the charitable organization without registration details

• Receipt from the charitable organization with registration details and donation amount

Name one investment option that is not eligible for deduction under section 80

• National Savings Certificate (NSC)

• Employee's Provident Fund (EPF)

• Public Provident Fund (PPF)

• Sukanya Samriddhi Yojana

What is the maximum limit for deductions under section 80CCD(1B) for NPS contributions?

• Rs. 50,000

• Rs. 60,000

• Rs. 40,000

• Rs. 30,000

Can an individual claim deductions under section 80D for health insurance premiums paid for their parents?

• No

• Yes

• Only on weekends

• Sometimes

What is the documentation required to claim deductions under section 80E for education loan interest?

• Bank statement

• Loan application form

• Income tax return form

• Interest certificate from the bank or financial institution

What is the limit on deductions under section 80TTA for interest on savings account?

• Rs. 20,000

• Rs. 10,000

• Rs. 15,000

• Rs. 5,000

What conditions must be met to claim deductions under section 80U for a person with a disability?

• Certification by educational authority

• Conditions to claim deductions under section 80U for a person with a disability include certification by medical authority, disability of at least 40%, and incurring disability-related expenses.

• Disability of at least 20%

• Incurring non-disability related expenses

Name one condition where deductions under section 80DDB for medical treatment are not allowed

• Taxpayer covered under a health insurance policy

• Taxpayer not having a valid prescription

• Medical treatment not certified by a specialist

• Medical treatment received outside the country