Custom Permission Levels - For a Normal restricted User

First Check the Site Permissions:
1. View Usage Data - View reports on Web site usage.
2. Browse Directories - Enumerate files and folders in a Web site using SharePoint Designer and Web DAV interfaces.
3. View Pages - View pages in a Web site.
4. Enumerate Permissions - Enumerate permissions on the Web site, list, folder, document, or list item.
5. Browse User Information - View information about users of the Web site.
6. Use Remote Interfaces - Use SOAP, Web DAV, or SharePoint Designer interfaces to access the Web site.
7. Use Client Integration Features - Use features which launch client applications. Without this permission, users will have to work on documents locally and upload their changes.
8. Open - Allows users to open a Web site, list, or folder in order to access items inside that container.
9. Edit Personal User Information - Allows a user to change his or her own user information, such as adding a picture.
List Permissions:
1. Add Items - Add items to lists, add documents to document libraries, and add Web discussion comments.
2. Delete Items - Delete items from a list, documents from a document library, and Web discussion comments in documents.
3. View Items - View items in lists, documents in document libraries, and view Web discussion comments.
4. Open Items - View the source of documents with server-side file handlers.
5. View Versions - View past versions of a list item or document.
6. Delete Versions - Delete past versions of a list item or document.
7. View Application Pages - View forms, views, and application pages. Enumerate lists.
Notes:
1. Modify Shared Web Part will come when user has edit access.
2. Access denied can come when he doesn't have View Application Pages Permission.
3. Delete will show up but when clicked acces denied will come, this is due to the user doesn't have delete versions, view versions permission when versioning has been enabled.