Income Tax Exemptions and Limits For Salaried Employees 2016-2017

Here, we will list all income tax exemptions with their limits for salaried employees for the year 2016-1017. All amounts are in Rupees.


80C - 1,50,000

Includes Home loan principal, PF contributions, PPF etc.


Section 24 - 2,00,000

Includes Interest on Home Loan.


Section 80EE - 50,000

Includes Income Tax Benefit on Interest on Home Loan (First Time Buyers)


80 G - No limit


Either 100 percent or 50 percent or 0 percent of amount donated, based on type of donations and receipient.


80 D - 25,000, 55,000, 60,000 or 65000

Covered Persons Exemption Limit Health Check-Up Exemption total
Self and family Rs.25,000 Rs.5,000 Rs.25,000
Self and family + parents Rs.(25,000 + 25,000) = Rs.50,000 Rs.5,000 Rs.55,000
Self and family + senior citizen parents Rs.(25,000 + 30,000) = Rs.55,000 Rs.5,000 Rs.60,000
Self (senior citizen) and family + senior citizen parents Rs.(30,000 + 30,000) = Rs.60,000 Rs.5,000 Rs.65,000




Please add any missing points or correct any incorect info.

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