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Section 80C of the Income Tax Act

1 reply, 2 voices Last updated by Vaishali Dhameja 5 months, 1 week ago
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  • #8781

    Trupati shende
    Participant
    @trup@ti123

    What is the maximum deduction a taxpayer can avail under section 80C of the Income Tax Act?

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    #8794

    Vaishali Dhameja
    Participant
    @vinnied99

    As per the section 80C of the Income Tax Act, the deduction is available only to an individual or a Hindu Undivided Family (HUF) and deduction does not exceed Rs. 1,50,000 during a previous year. A taxpayer is eligible for deduction if contribution/deposits/investments/payment made during the previous year. A taxpayer should make investments/deposits out of his taxable income or otherwise.

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