11 less popular tax deductions that can be used

The majority of people struggle with the deductions they can claim when filing their ITR.

1. Section 24

It is possible to deduct the interest paid on home loans taken from friends or family to purchase a new property.

2. Section 80D

A deduction of up to Rs 50,000 can be claimed if you pay the medical bills for your senior citizen parents who are uninsured.

3. Section 80D

Up to Rs 5,000 can be claimed for preventive health checkups for the yourself, your spouse, and any dependant children.

4. Section 80GG

If you do not receive HRA from your work, you may deduct up to Rs 60,000 for your rent.

5. Section 80DDB

A deduction of Rs 40,000 can be claimed for the treatment of dependents suffering from specified diseases.

6. Section 80U/80DD

Taxpayers who are disabled or who have disabled dependents may claim a deduction between Rs. 75,000 and Rs. 1,25,000 under Sections 80U and 80DD.

7. Section 80C/CCD

By investing in the National Pension System(NPS), you can claim a deduction of Rs. 1,50,000 under Section 80 C and Rs. 50,000 under Section 80CCD .

8. Section 80C/ 24

If you are a joint borrower on a home loan

Each of you is eligible to receive Rs. 1,50,000 under Section 80C for principal repayment and Rs. 2,00,000 under Section 24 for interest payback.

9.Hindu Undivided Family (HUF)

Hindu Undivided Family (HUF) is a separate entity and is eligible to claim deductions under various laws.

10. Section 80G

Donations made to NGOs or registered charitable organisations are eligible for deductions.

11. Don’t forget your capital losses

You can deduct your losses from your gains while paying taxes on capital gains, whether they are short-term or long-term.