WebA maximum deduction of Rs 1.5 lakh is available under Section 80C is one of the most popular deductions that salaried individuals usually claim to save tax. A maximum … Web6 rows · Section 80C. Section 80C of the Income Tax Act of India is a clause that points to various ...
Deductions Under Section 80C Limit in India - ICICI Prulife
WebSection 80C Deduction on Investments. An individual can claim up to a maximum deduction of Rs.1.5 Lakhs from the total taxable income under Section 80C of the Income Tax Act 1961. This tax deduction under section 80C can be claimed by individuals and Hindu Undivided Families (HUFs) while filing an income tax return. WebSection 80C of the Income Tax Act allows you to claim deductions for various expenses. A relatively lesser-known option to save tax under Section 80C is payments towards the … meghanmood twitter
Income tax Deductions FY 2024-23: Useful for Tax Planning
WebFeb 6, 2024 · Section 80C is the most popular income tax deduction for tax saving. 80C deduction limit for current FY 2024-22 (AY 2024-23) is Rs.1,50,000. For claiming the tax benefit ITR filing is mandatory. In this guide we have explained all the investment options available under 80C alongwith their eligibility criteria. WebApr 11, 2024 · The exemptions available under the old regime include House Rent Allowance (HRA) and Leave Travel Allowance (LTA). When it comes to deductions, Section 80C is … Web13 hours ago · To calculate the taxable income of an assesse from his gross total income there are certain deduction allowable under sections 80C to section 80U under Chapter VI of the Income Tax Act 1961. Section 80C to Section 80GGC are applicable to Individuals and Hindu Undivided Family, while Section 80IA to section 80PA are applicable to other than ... nand-mediack