Section 30

(1) The chargeable income of an individual, is the total income of Ascertain-
that individual ascertained under the provisions of section 28 of this Act, less ment of
chargeable
eligible deductions.
income of
(2) For the purposes of this section – individuals
(a) "eligible deductions" include payments made by the individual in a
year of assessment in respect of –
(i) the individual's contributions under the National Housing Fund,
(ii) the individual's contributions under the National Health Insurance
Scheme,
(iii) the individual's contributions under the Pension Reform Act, Act No. 4,
2014
(iv) interest on loans for developing an owner-occupied residential
house,
(v) annual amount of any annuity or premium paid by the individual
during the year preceding the year of assessment in respect of insurance
on his life or the life of his spouse, or contract for a deferred annuity on
his own life or the life of his spouse; and
(vi) rent relief of 20% of annual rent paid, subject to a maximum of
N500,000, whichever is lower, provided that the individual accurately
declares the actual amount of rent paid and other relevant information as
may be prescribed by the relevant tax authority ; and
(b) "total income" means total income as specified in section 28 of this
Act.