{"id":893,"date":"2018-09-09T16:50:46","date_gmt":"2018-09-09T11:20:46","guid":{"rendered":"http:\/\/www.parinitasharma.com\/?p=893"},"modified":"2018-09-09T23:46:54","modified_gmt":"2018-09-09T18:16:54","slug":"section-80c-150000-maximum-deduction","status":"publish","type":"post","link":"https:\/\/www.parinitasharma.com\/blog\/section-80c-150000-maximum-deduction\/","title":{"rendered":"Section 80C, – 1,50,000 Maximum Deduction"},"content":{"rendered":"

What is 80c in Income Tax?<\/strong><\/em><\/h1>\n

Section 80C\u00a0comprises of various investments and expenses that are eligible for tax deductions. A taxpayer can claim maximum tax deductions of Rs 1.5 lakh for a particular financial year (FY) from his\/her taxable income through investments made by him\/her under section 80C of the Income Tax Act, 1961.<\/p>\n

Who is Eligible for Deductions under 80C?<\/strong><\/em><\/h1>\n
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An individual<\/strong> or a Hindu Undivided Family (HUF)<\/strong> is eligible for claiming tax deduction u\/s 80C.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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80C Investments Eligible for Tax Deductions<\/strong><\/em><\/h1>\n

The below mentioned investments are eligible for deductions u\/s 80C. An investor can choose to either invest in all the available tax-saving instruments or in some of them.<\/p>\n

Investment in PPF
\n\u2013 Employee\u2019s share of PF contribution
\n\u2013 NSCs
\n\u2013 Life Insurance Premium payment
\n\u2013 Children\u2019s Tuition Fee
\n\u2013 Principal Repayment of home loan
\n\u2013 Investment in Sukanya Samridhi Account
\n\u2013 ULIPS
\n\u2013 ELSS
\n\u2013 Sum paid to purchase deferred annuity
\n\u2013 Five year deposit scheme
\n\u2013 Senior Citizens savings scheme
\n\u2013 Subscription to notified securities\/notified deposits scheme
\n\u2013 Contribution to notified Pension Fund set up by Mutual Fund or UTI.
\n\u2013 Subscription to Home Loan Account scheme of the National Housing Bank
\n\u2013 Subscription to deposit scheme of a public sector or company engaged in providing housing finance
\n\u2013 Contribution to notified annuity Plan of LIC
\n\u2013 Subscription to equity shares\/ debentures of an approved eligible issue
\n\u2013 Subscription to notified bonds of NABARD<\/p>\n

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What is 80c in Income Tax? Section 80C\u00a0comprises of various investments and expenses that are eligible for tax deductions. A taxpayer can claim maximum tax deductions of Rs 1.5 lakh for a particular financial year (FY) from his\/her taxable income through investments made by him\/her under section 80C of the Income Tax Act, 1961. Who […]<\/p>\n

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