During his Budget speech, Finance Minister Arun Jaitley said an individual tax payer can claim tax benefits for up to Rs. 4,44,200 in addition to the tax exemption.
Here is how you get there:
|Deductions under 80C||Rs. 1,50,000|
|Deductions under 80CCD for contribution to NPS||Rs. 50,000|
|Interest on house property loan||Rs. 2,00,000|
|Exemption with new transportation allowance of Rs. 1,600 per month||Rs. 19,200|
|New deductible health insurance premium||Rs. 25,000|