Digit
headset_mic
Digit
mail_outline
24x7
[email protected]
  • Products

    Motor

    • Car Insurance
    • Two Wheeler/Bike Insurance
    • Commercial Vehicle Insurance
    • Taxi/Cab Insurance
    • Auto Rickshaw Insurance
    • Truck Insurance

    Health

    • Health Insurance
    • Super Top-up Health Insurance
    • OPD Health Insurance
    • Arogya Sanjeevani Policy
    • Personal Accident Insurance
    • Corporate Health Insurance

    Other

    • International Travel Insurance
    • Flight Delay
    • Shop Insurance
    • Home Insurance
  • Claims

    • File a Claim
    • File Health Claim
    • File Motor Claim for Garages
    • COVID-19 Assistance
    • Claim Status
  • Renewals
  • Become an Agent
  • Products
    • Car Insurance
    • Two Wheeler/Bike Insurance
    • Commercial Vehicle Insurance
    • Taxi/Cab Insurance
    • Auto Rickshaw Insurance
    • Truck Insurance
    • Health Insurance
    • Super Top-up Health Insurance
    • OPD Health Insurance
    • Arogya Sanjeevani Policy
    • Personal Accident Insurance
    • Corporate Health Insurance
    • International Travel Insurance
    • Flight Delay
    • Shop Insurance
    • Home Insurance
  • Claims
    • File a Claim
    • File Health Claim
    • File Motor Claim for Garages
    • COVID-19 Assistance
    • Claim Status
  • Renewals
  • Become an Agent
  • Support
    Sign In
    • edit Edit Policy
    • download Download Policy
    • person_pin My Service Requests
    call 1800 103 4448 whatsapp 70260 61234 mail_outline [email protected]

    Our WhatsApp number cannot be used for calls. This is a chat only number.

  • login
  • about
  • contact
  • careers
Digit
More Products

Motor

  • Car Insurance
  • Two Wheeler/Bike Insurance
  • Commercial Vehicle Insurance
  • Taxi/Cab Insurance
  • Auto Rickshaw Insurance
  • Truck Insurance

Health

  • Health Insurance
  • Super Top-up Health Insurance
  • OPD Health Insurance
  • Arogya Sanjeevani Policy
  • Personal Accident Insurance
  • Corporate Health Insurance

Other

  • International Travel Insurance
  • Flight Delay
  • Shop Insurance
  • Home Insurance

Support

close
  • edit Edit Policy
  • download Download Policy
  • person_pin My Service Requests
call 1800 103 4448 whatsapp 70260 61234 mail_outline [email protected]

Our WhatsApp number cannot be used for calls. This is a chat only number.

Switch to Digit Insurance

Trusted by 2 crore Indians

  • 1 Year Waiting Period
    Health
    Health
  • Car Side View
    Car
  • Motorcycle Side View
    Bike
  • auto rikshaw
    Commercial
  • COVID-19 covered
    Travel Airplane
    Travel
  • More products
    More
loading
loading
OR ENTER YOUR CAR NUMBER
keyboard_arrow_right
DON'T KNOW YOUR CAR NUMBER?
keyboard_arrow_right
or renew digit policy keyboard_arrow_right

I agree to the  Terms & Conditions

Terms and conditions

Oops, we have a mismatch!

Please enter valid registration number
Please enter valid City name
{{bikeCtrl.pincodeErrorMessage}}
loading
DON'T KNOW REGISTRATION NUMBER?
keyboard_arrow_right
I KNOW MY REGISTRATION NUMBER
keyboard_arrow_right
IT'S A NEW BIKE
keyboard_arrow_right
OR RENEW DIGIT POLICY
keyboard_arrow_right

I agree to the  Terms & Conditions

x {{country}}

Most Popular(You can select more than one)

  • {{country}}

Try agian later

loading

I agree to the  Terms & Conditions

As mandated by Spanish Authorities your travel insurance needs to extend 15 days after your trip ends.
We will extend your coverage period accordingly.

Get Quote
Get Quote
false false false false false false false false false false false false
{{healthCtrl.residentPincodeError}}
{{healthCtrl.agentCodeError}}
close {{member}} {{ healthCtrl.getMemberCount(member) }}
{{healthCtrl.familyComposureError}}
{{healthCtrl.mobileNumberError}}

Try agian later

loading

Port my existing Policy

keyboard_arrow_right

I agree to the  Terms & Conditions

I agree to the  Terms & Conditions

Agent Name: {{healthCtrl.integraAgentDetails.agentName}}
State: {{healthCtrl.integraAgentDetails.state}}
SP Name: {{healthCtrl.integraAgentDetails.spName}}
SP Code: {{healthCtrl.integraAgentDetails.spCode}}

Try agian later

loading
{{healthCtrl.residentPincodeError}}
{{healthCtrl.agentCodeError}}
Agent name: {{healthCtrl.integraAgentDetails.agentName}}
State: {{healthCtrl.integraAgentDetails.state}}
SP Name: {{healthCtrl.integraAgentDetails.spName}}
SP code: {{healthCtrl.integraAgentDetails.spCode}}
+91 {{healthCtrl.mobileNumberError}}

Try agian later

loading
done
I agree to the  Terms & Conditions

You can select more than one member

{{healthCtrl.patentSelectErrorStatus}}

  • -{{familyMember.multipleCount}}+ Max {{healthCtrl.maxChildCount}} kids
    (s)
OR ENTER YOUR REGISTRATION NUMBER
keyboard_arrow_right
DON'T KNOW YOUR REGISTRATION NUMBER
keyboard_arrow_right
or renew digit policy keyboard_arrow_right

I agree to the  Terms & Conditions

Get Quote
  • Which countries are you visiting?

    {{travelCtrl.countriesList}} Edit

    x {{country}}
    {{travelCtrl.mobileCountryErrorMessage}}

    Most Popular(You can select more than one)

    • {{country}}
  • Leaving date

    {{travelCtrl.startDate}}Edit

  • Return date

    {{travelCtrl.endDate}} Edit

Terms and conditions

Terms and conditions

Terms and conditions

Virat Kohli has switched to Digit insurance! The choice of the Captain and 2 crore Indians. When will YOU switch?
Switch to Digit Insurance
  • Health
  • Car
  • Bike
  • Commercial
  • Travel
  • More Products

Tax Saving Options other than 80C

All about Tax Saving Investments other than 80C

Section 80C is the most well-known provision of the Income Tax Act of 1961, under which rebate of up to Rs. 1.5 Lakh is granted on several loan products and other investment tools.

However, you should also be aware of numerous other instruments aiming to reduce your taxable income. Such tax saving options other than 80C allows you to increase your annual savings through substantial income tax returns.

Since the Income Tax Act maintains several provisions for tax returns, an individual might not be aware of the regulations simultaneously. This can cause them to lose out on funds through redundant tax payments, reducing their annual savings respectively. 

We aim to help you keep track of your total taxable income by describing the various provisions which are tax-saving other than 80C in a nutshell. 

80TTA

Interest income from all bank accounts.

₹10,000

80E

Tax on income spent on interest payments of education loans up to 8 years

No limit

80D

Health insurance premiums

From ₹25,000 up to ₹1 Lakh under some circumstances.

24(b)

Interest repayment on home loans

₹2 Lakh

80EEA

Interest repayment on home loans for first-time buyers

₹50,000

10(10D)

Sum assured on life insurance plans

Entire amount

10(13A)

House rent allowance (if HRA is given in salary break-up)

Specified conditions

80GG

House rent allowance (if HRA is not mentioned in salary break-up)

Specified conditions

80G

Donation to Charity

No limit

80GGA

Donation for scientific research and rural development

No limit

80GGC

Donation to Political parties

No limit

80DD

Treatment of Disabled persons

₹75,000 for 40%-80% disability ₹1,25,000 for higher than 80% disability

80U

Disabled persons

₹75,000 for 40%-80% disability ₹1,25,000 for higher than 80% disability

80DDB

Medical ailments

₹40,000 (₹1,00,000 for senior citizens)

What are the Various Tax Saving Investments Other than 80C?

Income tax saving instruments other than 80C can be listed under the following acts:

1. Interest Income Generated from Savings Account Deposits

Section - 80TTA 

Limit – ₹10,000

Total interest income generated from savings account deposits can be claimed under Section 80TTA. Nonetheless, such deduction in taxable income is only limited to ₹10,000 annually.

If you maintain multiple savings accounts in different banks, the total cumulative interest is considered, and is taxed under ‘income from other sources’. 

If such interest income exceeds ₹10,000 in a year, only the excess amount over the cap is taxed at rates depending upon aggregate annual income. 

2. Interest Component Paid Towards Education Loan

Section - 80E

Limit – No limit

Income spent to meet the interest component of education loans is not taxable under this section. Such an education loan can be unsecured or availed against collateral, depending upon the amount of funds required. 

However, it should be noted that such waivers are only granted for the first 8 years of loan repayment. Any income spent to meet the interest burden beyond this time is taxable. 

Education loans eligible for such deductions have to be taken in the name of the respective individual and can be utilised to meet the higher education charges of either self, spouse, or children. It is one of the most popular tax saving schemes other than 80C. 

3. Premium Payment Towards Health Insurance Policies

Section - 80D

Limit - Depends as per specific conditions

Eligibility

Exemption limit

Health insurance for self and family (spouse and dependent children)

₹25,000

For self and family + parents

₹25,000 + ₹25,000) = ₹50,000

For self and family (below 60 years) + Parents above 60 years of age

₹25,000 + ₹50,000 = ₹75,000

For self and family (with members above 60 years) + senior citizen parents

₹50,000 + ₹50,000) = ₹1,00,000

Provision for tax rebate under Section 80D is extended to health check-up expenses as well. You can claim tax waiver on such costs amounting up to ₹5,000 respectively.

Such exemption is inclusive of the ₹25,000 rebate on health insurance. This means that people who have claimed ₹5,000 as their medical check-up costs are eligible for ₹20,000 rebate on premium charges.

 

Know more about

  • Health Insurance Tax Benefits
  • Individual Health Insurance
  • Family Health Insurance
  • Senior Citizen Health Insurance

4. Interest Component Paid Towards Home Loans

Section - 24(b)

Limit – ₹2 Lakh

Interest payments on a home loan can be removed from income tax calculations under this section. If the house is purchased for residence, a maximum of ₹2 Lakh can be claimed as a tax rebate on the interest rate, provided the construction is completed within five years of the loan tenure. 

If you choose to let out the purchased property on rent, then no tax has to be paid on the interest component of the home loan respectively. 

5. Interest Component Paid Towards Home Loans for First Time Home-Buyers

Section - 80EEA

Limit – ₹50,000 above benefits from Section 24(b)

First-time home-buyers can claim additional interest benefits amounting to ₹50,000 above Section 24(b) on home loan EMIs, provided the property value is less than ₹45 Lakh. This effectively makes way for up to ₹2.5 Lakh tax-saving other than Section 80C. 

However, no prior property should be registered under an applicant’s name while availing a home loan to be eligible for a tax rebate on total income spent on EMI payments under Section 80EEA.

6. Sum Assured on Maturity of Life Insurance Plans

Section - 10(10D) 

Limit – Entire maturity amount

The entire sum assured disbursed upon maturity of life insurance or untimely death of an insured person can be claimed for tax rebate under Section 10(10D).

However, such death benefit is exempted from tax calculations if it is availed after 1st April 2012, and total value premium charges are less than the full sum assured.

If the policy is availed before 1st April 2012, then the premium expenses should be less than 20% of the total sum assured to be eligible for waivers under section 10(10D).

7. House Rent Allowance Provided Under Salary Break-Up

Section - 10(13A)

Limit – Specified conditions

This provision of the Income Tax Act caters to tax benefits under house rent allowance (HRA), provided your salary break up contains the HRA component. A total exemption granted under this scheme is the minimum value of the following:

  • Actual annual HRA disbursed.
  • 50% of yearly salary.
  • Yearly rent paid – 10% of basic income. 

8. House Rent Allowance Component Not Included Under Salary Break-Up

Section - 80GG

Limit – Specified conditions

If your company does not include the HRA component in your salary break-up, you can claim exemptions on your total taxable income through Section 80GG. Such tax-saving investments other than 80C grants waivers up to the least value of the listed parameters:

  • ₹5,000 per month. 
  • 25% of the total annual income. 
  • Annual rent – 10% of the basic annual income.

9. Donations to Charitable Organisations

Section - 80G

Limit – No limit

Any income donated to charitable organisations is exempt from tax calculations entirely under Section 80G. No limit on such tax waivers are levied provided transfers have been made through banks.

Any cash donations are exempt from tax calculations for up to ₹2,000. However, such contributions have to be made in registered charitable organisations. 

10. Donations Made Towards Scientific Research and Rural Development

Section - 80GGA 

Limit – No limit

If donations are made for scientific research and rural development, tax waivers on the same can be claimed under Section 80GGA.

100% of the income spent is eligible for such deductions, provided the transaction has been made through a bank account and is documented. 

11. Donations Made Towards Political Parties

Section - 80GGC 

Limit – No limit

Donations made to political parties are also tax saving other than Section 80C. The entire contribution is waivered from tax calculations, provided it was made through wired bank transfers.

Also, the political party to which such contributions were made has to be registered under Section 29A of the Representation of People Act (RPA) of 1951. 

12. Expenses Incurred Towards Treatment of a Disabled Person

Section - 80DD

Limit:

  • ₹75,000 for 40%-80% disability
  • ₹1,25,000 for higher than 80% disability

Individuals and Hindu Undivided Families (HUF) paying for the treatment and wellbeing of a disabled family member can claim exemptions on total income spent to cover such expenses under Section 80DD. 

The coverage limit is determined based on the percentage of disability, wherein people having 40-80% disability are eligible for deduction up to ₹75,000.

Families hosting a person having disability higher than 80% can claim up to ₹1.25 Lakh inclusive of all related expenses. Such claims are granted only to the family of such dependent individuals.

13. Income Tax Benefits Extended Towards Disabled Individuals

Section - 80U

Limit:

  • ₹75,000 for 40%-80% disability
  • ₹1,25,000 for higher than 80% disability

Disabled individuals can claim compensation in the form of tax waivers under Section 80U. Such disability has to be certified by a registered medical authority with at least 40% impairment.

Incapacitated individuals suffering from 40-80% disability can claim ₹75,000, while people suffering from higher than 80% disability are entitled to maximum ₹1.25 Lakh through tax benefits. 

14. Expenses Incurred Towards Treatment of Individuals With Specific Disease or Disability

Section - 80DDB

Limit - ₹40,000 (₹1,00,000 for senior citizens)

People financing the treatment of dependent family members diagnosed with certain specific diseases can claim tax waivers on subsequent income spent.

A maximum of ₹40,000 is disbursed in such cases for individuals below the age of 60. Such waiver consequently increases to ₹1 Lakh for senior citizens (60-80 years) and super senior citizens (above 80 years). 

Such waivers can be received for the treatment of critical illness such as neurological diseases (causing 40% or higher disability), malignant cancers, AIDS, chronic renal disease, and haematological ailments. 

Thus, there are several ways for tax saving other than Section 80C, which can effectively increase your total wealth in the long term. Most such tools act as a comprehensive investment tool as well; allowing realising higher returns or reduces obligatory expenses. 

FAQs about Tax Saving Options other than 80C

✓ How can I claim such deductions?

File income tax returns online for the respective financial year to reduce total taxable income.

File income tax returns online for the respective financial year to reduce total taxable income.

✓ When do I have to file income tax returns?

The last date for filing income tax returns changes every annual year and is published on their website. It usually ranges within months of July – August. 

The last date for filing income tax returns changes every annual year and is published on their website. It usually ranges within months of July – August. 

✓ What documents do I need to file such returns?

Keep the following documents handy while filing for income tax returns –  Form 16 Interest certificates from banks/post office Form 26AS Proof of investment in tax saving instruments All related proof to make claims under the various sections Capital gains KYC documents Salary slips

Keep the following documents handy while filing for income tax returns – 

  • Form 16
  • Interest certificates from banks/post office
  • Form 26AS
  • Proof of investment in tax saving instruments
  • All related proof to make claims under the various sections
  • Capital gains
  • KYC documents
  • Salary slips

Please try one more time!

Request URL:
Status Code:
Request Payload:
Response Data:

Disclaimer: The information mentioned here is collected from different online websites, news websites and government sources. They may change as per time. Please check the official government websites and verify the information before making any decision.

More article about Income Tax in India

Income Tax Benefits for Senior Citizens

Income Tax Slabs in India

Income Tax Slab for Senior Citizen

Individual Income Tax Slab

Income Tax Slab for Women

How to Save Tax in India

Deductions under Section 80C

Tax Saving Options other than 80C

How your Family can help you save Tax?

New Income Tax Slabs for Senior & Super Senior Citizens

Benefits of Filing Income Tax Return ITR

How to File ITR Online?

How to File Income Tax Return Online for Salaried Employees?

ITR Filing for Businesses & Individuals

How to get Income Tax Return Copy Online?

What is ITR 2 in Income Tax?

What is ITR 4 in Income Tax?

What is ITR 1 Form Sahaj?

What is ITR-3 Form?

How to File Income Tax Return ITR?

How to File ITR for Non-Salaried Person

How to File TDS Return

Last Date of Filing Income Tax Return (ITR)

All you need to know about Income Tax Returns

Capital Gains Tax: Long Term & Short Term Gains

How To Get Income Tax Refund (TDS Refund)

How to Check Income Tax Refund Status Online

Different Types of Income Tax Return Forms in India

How to Download ITR Acknowledgement Online?

What happens if ITR is not Filed?

What is the Penalty for Not Filing ITR?

How to do e-Verification of ITR?

File ITR for Pensioners & Retired Govt Employees

Home Loan Tax Benefits

Section 80TTA of Income Tax Act

What is TDS?

Section 194H of Income Tax Act

Section 194A of Income Tax Act

Section 80DDB of Income tax Act

What is TAN Card

Section 80GG of Income Tax Act

Section 80E of Income Tax Act

Section 80CCD of Income Tax Act

Section 80D of Income Tax Act

What is Income Tax Form 16

What is ITR Form 16A

What is ITR Form 26AS?

Section 194I of Income Tax Act

Section 115BAC of Income Tax Act

What is Excise Duty in India?

What is Indirect Tax?

Deductions Under Section 80GGA of Income Tax Act

Difference Between Section 80G and 80GGA

Tax Credit vs. Tax Deduction

Show more
  1. Digit Insurance
  2. Income Tax
  3. Tax Saving Other than 80C

Last updated: 2021-12-16

Digit
  • about
  • contact
  • career
Products
  • Car Insurance
  • Bike Insurance
  • Travel Insurance
  • Health Insurance
  • Property Insurance
  • Shop Insurance
  • Group Health Insurance
  • Arogya Sanjeevani Policy
  • Commercial Vehicle Insurance
  • Super Top-up Health Insurance
  • Flight Delay
Resources
  • Blog
  • Press
  • Download Policy
  • Grievance Redressal Procedure
  • Cancel e-Mandate
Agent & Partnerships
  • Become an Agent
  • Become Digit POSP
  • Garages claim intimation
Services
  • Claims
  • Renewals
  • Digit Cashless Garages
  • Digit Cashless Hospitals
Get our app
Download man
App Store Google Play

Other Products
  • Home Insurance
  • Fire Insurance
  • Burglary Insurance
  • Building Insurance
  • Bus Insurance
  • Tractor Insurance
  • Commercial Van Insurance
  • Passenger Carrying Vehicle Insurance
  • Heavy Vehicle Insurance
  • Goods Carrying Vehicle Insurance
  • Activa Insurance
  • Jupiter Insurance
  • Bullet Insurance
Health Insurance Guides
  • Individual Health Insurance
  • Family Health Insurance
  • Health Insurance for Parents
  • Health Insurance Premium Calculator
  • Compare Health Insurance
  • Health Insurance for Senior Citizens
  • Health Insurance with Maternity Cover
  • Corona Kavach Policy
  • Corona Rakshak Policy
  • हेल्थ इन्शुरन्स
  • फैमिली हेल्थ इन्शुरन्स
Car Insurance Guides
  • Third Party Car Insurance
  • Comprehensive Car Insurance
  • Zero Depreciation Car Insurance
  • NCB in Car Insurance
  • IDV Calculator for Car
  • Bumper to Bumper Car Insurance
  • Car Insurance Calculator
  • Own Damage Car Insurance
  • Comprehensive vs Third Party Insurance
  • Compare Car Insurance
  • Find Vehicle Registration Details Online
Bike Insurance Guides
  • Third Party Bike Insurance
  • Comprehensive Bike Insurance
  • Zero Depreciation Bike Insurance
  • NCB in Two Wheeler Insurance
  • IDV Value Calculator for Bike
  • Add-on Cover in Bike Insurance
  • Bike Insurance Calculator
  • Own Damage Bike Insurance
  • Comprehensive vs Third Party Bike Insurance
  • Compare Bike Insurance
  • Royal Enfield Insurance
  • TVS Insurance
  • Hero Bike Insurance
Other Guides
  • Types of Insurance
  • Types of General Insurance
  • Types of Motor Insurance
  • International Driving License
  • Visa on Arrival for Indians
  • Visa Free Countries for Indians
  • Comprehensive vs Zero Depreciation
  • Coronavirus Health Insurance
  • Coronavirus Symptoms Checker
  • Indian Passport Rank
  • Digit Illness Group Insurance
  • Hero Splendor Insurance
  • Access Insurance
  • Scooty Insurance
Calculators
  • SME Buddy Calculator
  • Home Loan EMI Calculator
  • Bike Loan EMI Calculator
  • Car Loan EMI Calculator
  • HRA Exemption Calculator
  • Sukanya Samriddhi Yojana Calculator
  • SIP Calculator
  • RD Calculator
  • SWP Calculator
  • GST Calculator
  • PPF Calculator
  • Personal Loan EMI Calculator
  • EMI Calculator
Finance Guides
  • What is Credit Score
  • Public Provident Fund
  • How to Open PPF Account?
  • How to open Sukanya Samriddhi Account
  • What is GST?
  • GST Registration in India
  • PAN Card
  • Aadhaar Card
  • Property Tax
  • Road Tax
  • Passport Process
Traffic Rules
  • PUC Certificate
  • Vehicle Registration Certificate
  • New Traffic Fines
  • Fine for Driving without Helmet
  • Types of Driving Licence in India
  • Driving Licence in Delhi
  • Driving Licence in Bangalore
  • Driving Licence in Jaipur
  • Bangalore Traffic Fines
  • Pune RTO Fine
  • Own Damage Insurance
Income Tax Guides
  • How to Save Income Tax in India
  • Income Tax Slab
  • Tax Deductions under Section 80C
  • Individual Income Tax Slab
  • Income Tax Slab for Women
  • Senior Citizen Tax Slab
  • Income Tax Benefits for Senior Citizens
  • Tax Saving Options other than 80C
RTO Offices in India
  • RTO Office
  • RTO Pune
  • RTO Ahmedabad
  • RTO Bangalore
  • RTO Mumbai
  • RTO Delhi
  • RTO Lucknow
  • RTO Thane
  • RTO Chennai
Important Links
  • Digit Insurance Reviews
  • Car Insurance Reviews
  • Bike Insurance Reviews
  • Commercial Vehicle Insurance Reviews
  • Travel Insurance Reviews
  • Health Insurance Reviews
  • Mobile Insurance Reviews
  • Become a Digit Partner
  • General Insurance Agent
  • Health Insurance Agent
  • Motor Insurance Agent
Car Brands & Models
  • Maruti Insurance
  • Toyota Car Insurance
  • Tata Car Insurance
  • Hyundai Car Insurance
  • Kia Car Insurance
  • Mahindra Car Insurance
  • Tata Tiago Insurance
  • Tata Nexon Insurance
  • Hyundai i20 Insurance
  • Creta Insurance
  • Baleno Insurance
Downloads Do Not Disturb (DND) Public Disclosures Stewardship Policy IRDAI Privacy Policy

CIN: U66010PN2016PLC167410, IRDAI Reg. No. 158.

Go Digit General Insurance Limited (formerly known as Oben General Insurance Ltd.) - Registered Office Address - 1 to 6 floors, Ananta One (AR One), Pride Hotel Lane, Narveer Tanaji Wadi, City Survey No.1579, Shivaji Nagar, Pune-411005, Maharashtra | Corporate Office Address - Atlantis, 95, 4th B Cross Road, Koramangala Industrial Layout, 5th Block, Bengaluru-560095, Karnataka