Apr 10, 2025 · Under section 80C you can claim a deduction of ₹1.5lakhs by investing in PPF, ELSS etc. Also, you can claim a deduction for medical insurance premium upto ₹75,000 per year for yourself and your family , and up to ₹1,00,000 annually for senior citizens.

Apr 4, 2017 · For section 80C- The amount of eligible investment or expenditure as specified is fully allowed for deduction subject to the limit of Rs 1.5 lakh. The limit of Rs 1.5 lakh deduction of Section 80C includes 80CCC (contribution towards pension plan) and 80CCD (1), …

Section 80C permits certain investments and expenses to be tax-exempted. By well-planning the 80C investments that are spread diversely across various options like NSC, ULIP, PPF, etc., an individual can claim deductions up to Rs 1,50,000.

Sep 30, 2024 · Section 80C of the Income Tax Act provides deduction towards specified investment and specified expenses. Importantly, only individuals and Hindu Undivided Family (HUFs) are eligible for claiming deduction u/s. 80C of the Income Tax Act.

Feb 17, 2025 · Section 80C of the Income Tax Act is the most popular income tax deduction for tax saving. 80C deduction limit for the current FY 2025-26 (AY 2026-27) is Rs.1,50,000. However, ITR filing is mandatory in order to claim the deduction under section 80C.

May 7, 2024 · Maximizing tax savings under Section 80C of the Income Tax Act is a crucial step in effective tax planning. By strategically investing in eligible options like PPF, NSC, and ELSS, you can claim deductions of up to INR 1.5 lakh and significantly reduce your taxable income.

Feb 18, 2025 · Section 80C is a tax-saving provision under the Indian Income Tax Act 1961. It allows taxpayers to claim deductions on specified investments and expenses such as Public Provident Fund (PPF), Employee Provident Fund (EPF), National Savings Certificate (NSC), Tax Saving Fixed Deposits, children’s tuition fees etc.

Section 80C of the Income Tax Act in India lets you reduce your taxable income by up to Rs. 1.5 lakh per year. This benefit applies to investments you make in things like Employee Provident Funds (EPF), Public Provident Funds (PPF), life insurance premiums, and certain mutual funds.

Jun 12, 2024 · Section 80C of the Income Tax Act provides taxpayers with an avenue to reduce their taxable income by investing in specified financial instruments or expenses. This section offers a maximum deduction of ₹1,50,000 per financial year.

Dec 11, 2024 · Section 80C of the Income Tax Act allows individuals to reduce their taxable income by claiming deductions on certain investments and expenses. Some popular investment options under Section 80C include life insurance premiums, Employee Provident Fund, Public Provident Fund (PPF) etc.