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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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    Trupati shende

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


    Vaishali Dhameja

    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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