Section 80C of the Income Tax Act provides provisions for tax deductions on a number of payments, with both individuals and Hindu Undivided Families eligible for these deductions.
Eligible taxpayers can claim deductions to the tune of Rs 1.5 lakh per year under Section 80C, with this amount being a combination of deductions available

Some of the popular investments which are eligible for this tax deduction are mentioned below

  • Payment made towards life insurance policies (for self, spouse or children)
  • Payment made towards a superannuation/provident fund
  • Tuition fees paid to educate a maximum of two children
  • Payments made towards construction or purchase of a residential property
  • Payments issued towards a fixed deposit with a minimum tenure of 5 years

13 Not to forget, it is your obligation. The taxes you pay on your income will work towards betterment of our nation