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Section 80C

All articles, News. Notification, Judiciary related to Deduction Under Section 80C of Income Tax Act, 1961 at one place.

Latest Articles


Why ELSS is Best Tax-Saving Investment for Long-Term Wealth

Finance : #AD Equity-Linked Savings Schemes (ELSS) are among the best tax-saving investment options available in India. These funds offer th...

April 23, 2025 348 Views 0 comment Print

How to Maximize Tax Savings Under New Tax Regime

Income Tax : Learn how to save tax under the new tax regime with standard deduction, employer NPS contributions, and tax-free retirement benefi...

February 26, 2025 18468 Views 2 comments Print

5-Year Tax Saving Fixed Deposit – Section 80C Deduction

Finance : Explore the features, benefits, and taxation of 5-year tax-saving fixed deposits in India. Learn how they help save taxes while of...

January 28, 2025 1584 Views 1 comment Print

My expectations from Budget 2025 in regard to Income tax

Income Tax : Anticipated income tax changes in Budget 2025 include simplified laws, revised slabs, TDS reforms, and equitable taxation for indi...

January 21, 2025 1473 Views 0 comment Print

What is an ELSS Fund and How Can It Help You Save Tax?

Income Tax : Learn about ELSS funds, their tax-saving benefits under Section 80C, and how they combine equity investment with wealth creation f...

January 13, 2025 4935 Views 0 comment Print


Latest News


No Tax on Digital Turnover up to 66 Lakh after section 80C benefit

Income Tax : If a trader makes his transactions in cash on a turnover of Rs.Two Crore, then his income under the presumptive scheme will then b...

December 21, 2016 22408 Views 28 comments Print

Senior Citizen Savings Schemes – Taxation and Status

Income Tax : Senior Citizen Savings Schemes deposits are eligible for deduction under section 80C of Income Tax Act but interest earned on depo...

November 26, 2016 7762 Views 1 comment Print

Rajan wants increase in Tax Exemption Limit

Income Tax : In Mumbai on Wednesday RBI Governor Raghuram Rajan said that there is a need for increase in tax exemption limit under section 80C...

February 5, 2015 11150 Views 0 comment Print

LIC Jeevan Sugam – New Single premium plan

Finance : LIC’s Jeevan Sugam is a non-linked single premium plan wherein the risk cover is a multiple of premium paid by you. On maturity ...

February 27, 2013 14403 Views 0 comment Print

Panel suggest increase in exemption limit to 3 lakh and in 80C deduction to 2.50 lakh

Income Tax : A Parliamentary panel scrutinising the Direct Taxes Code - DTC Bill has suggested raising the income tax exemption limit to 3 lakh...

March 3, 2012 994 Views 0 comment Print


Latest Judiciary


Adhoc addition post rejection of books of accounts unwarranted: ITAT Delhi

Income Tax : ITAT Delhi held that once the books of accounts are rejected, it doesn’t warrant any adhoc addition. Thus, CIT(A) rightly restri...

April 8, 2025 636 Views 0 comment Print

ITAT Hyderabad Upholds Section 68 Additions, Denies Section 80C deduction

Income Tax : ITAT Hyderabad sustains Section 68 additions, denies deductions for LIC premium and tuition fees, dismissing the assessee’s appe...

April 1, 2025 2190 Views 0 comment Print

Disallowance U/S 40A(3) Deleted: Genuineness & Identity of receiver Proven

Income Tax : ITAT Jaipur held that disallowance of cash payment under section 40A(3) of the Income Tax Act deleted since genuineness of the tra...

January 21, 2025 7254 Views 0 comment Print

Rejection of application for condonation of delay in filing refund clam is not appealable order u/s. 253

Income Tax : ITAT Surat held that rejection of the application for condonation of delay in filing refund claim u/s 119(2)(b) of the Act is not ...

January 11, 2025 321 Views 0 comment Print

Allowability of 50% of claimed indexed construction costs due to lack of sufficient evidence

Income Tax : Denial of the entire expenditure incurred towards as cost of construction by AO could not be held to be justified even if assessee...

January 4, 2025 1437 Views 0 comment Print


Latest Notifications


Section 80C deduction eligible on LIC Jeevan Akshay-VII Plan

Income Tax : CBDT notifies vide Notification No. 134/2021- Income Tax, Dated: 06.12.2021 that Jeevan Akshay-VII Plan of the Life Insurance Corp...

December 6, 2021 14508 Views 1 comment Print

Format of Deceleration of Income Tax Deduction Claimed & House Rent Receipt

Income Tax : Proof of savings/documents viz. insurance premium receipt, NSC, Infrastructure Bond, PPF Bank Statement, Housing Loan Certificate ...

November 2, 2021 23778 Views 0 comment Print

National Pension Scheme Tier II-Tax Saver Scheme 2020

Income Tax : CBDT notified vide Notification No. 45/2020-Income Tax dated 07th July, 2020 that Tax benefit of Section 80C will be available to ...

July 7, 2020 6450 Views 0 comment Print

Govt Extends due dates under Income Tax Law & Benami laws

Income Tax : Vide Income Tax Notification No. 35/2020 dated 24.06.2020  govt extends  Due date for ITR for FY 2018-19  upto 31.07.2020, Last...

June 24, 2020 260172 Views 11 comments Print

Relaxation guidelines for PPF and Sukanya Sarnriddhi Account

Finance : The Public Provident Fund (PPF) account/ Sukanya Sarnriddhi Account (SSA) holders will be eligible to make a single deposit each i...

April 11, 2020 32238 Views 13 comments Print


Allowable Deductions from Income while Filing Return of Income

December 27, 2020 12078 Views 4 comments Print

Deductions from Gross Total Income This Article covers the common deductions which can be claimed while filing Income Tax Return. Most Common Deductions are classified in the following Categories for easy understanding- 1. Income Based Deductions 2. Standard Amount of Deductions 3. Investment Based Deductions 4. Expenses Based Deductions Before going to any Specific Deductions, […]

Section 80EEA Deduction for interest paid on home loan for affordable housing

December 12, 2020 42633 Views 8 comments Print

Analysis of Sec-80EEA – Deduction for interest paid on home loan for affordable housing (w.e.f A.Y 2020-21) √ Eligibility criteria √ The deduction under this section is available only to individuals, not to HUF, AOP, Partnership firm, a company, or any other kind of taxpayer. √ Applies to both Resident and Non-Residents. √Amount of deduction […]

Tax planning and managing the House Property

October 16, 2020 17444 Views 0 comment Print

The direct tax proposals of budget 2014 have been tax friendly. It is also worth noting that budget proposals have received the assent of President and now it is law of land under Indian Income Tax Act. It provides for tax advantage in the form of increased basic exemption limit for individuals by Rs.50K.

Income Tax Saving Investments For Salaried Individuals

October 10, 2020 8730 Views 3 comments Print

Many individuals who are receiving income under the head salary ask about the methods which can legally help in saving tax on salaried people. It is a fact that are not allowed to claim expenses except those specified under the Income Tax Act. Therefore, they can only invest in or claim certain expenses which are […]

Section 80C & 10(10D) : Life Insurance Premium Deduction & Exemption

September 21, 2020 42201 Views 1 comment Print

Find out how Section 80C & Sec 10(10D) allows you to save taxes and get a financial cover with life insurance. Learn about the deduction, exemption, and implications of surrendering the policy.

Income Tax Deduction allowable on Housing Loan

August 19, 2020 20412 Views 3 comments Print

Article explains three Deduction Claimed on the payment of principal and Interest amount of Housing Loan which are deduction under Section 24b for Interest on Home Loan, deduction under Section 80EEA which provides deduction on Interest on house loan over and above the eligibility mentioned in the section 24 and deduction under Section 80C for […]

Deduction under Section 80C

August 11, 2020 25047 Views 2 comments Print

Deductions under section 80C to 80U are allowed from gross total income to compute total income however deduction is allowed only from normal income. Deductions are not allowed from- ♣ Long term capital gains, Section 112 ♣ Casual income, Section 58(4) ♣ Short term capital gains on sale of short term equity shares or short […]

Government wants you to own a house

July 30, 2020 38728 Views 12 comments Print

The government wants you to own a house and the same becomes evident from the various tax benefits allowed under the income tax laws to the persons who own a house. Let us understand the various beneficial tax provisions which prove that the government wants you to own a house.

Section 80C, 80CCC, 80CCD deduction (Rs. 1,50,000+50,000)

July 21, 2020 134040 Views 15 comments Print

Deduction under Section 80C, Section 80CCC, Section 80CCD (Maximum amount of Income Tax deduction Rs. 1,50,000+Rs. 50,000) Deduction under Section 80C In order to calculate total income of an Individual & HUF certain payments are very important to claim deduction u/s 80. Hence to know about which type of payment that are eligible to deduct […]

Analysis of NPS, ELSS, PPF Investment u/s. 80C of Income Tax

July 16, 2020 11629 Views 5 comments Print

Individuals who are employed and contributing to NPS would enjoy tax benefits on their own contributions as well as their employer’s contribution as under

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