Deductions available without any investments or further expenditures

Income Tax Act provides us with several Exemptions and Deductions for our taxable Income. Generally speaking the Assessee has to invest an amount to claim it as a deduction. Prime example can be the 80C series, which requires individual to invest in specific accounts, pension schemes, provident funds or Equity Linked Saving Scheme.

But as for few, exemptions and deductions can be claimed without investing the amounts. These exemptions and deductions are directly available on the Income Earned. Below chart lists out the exemptions and deductions available without investments -

Deductions Without Investment In Income

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