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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 18507 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 1590 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 1440 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 14511 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


Sec. 80C-Bank Term Deposit (Amendment) Scheme, 2007

December 20, 2007 3052 Views 0 comment Print

NOTIFICATION NO. S.O. 2127(E), DATED 13-12-2007 In exercise of the powers conferred by clause (xxi) of sub-section (2 ) of section 80C of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following Scheme, further to amend the Bank Term Deposit Scheme, 2006, namely :– 1. (1) This Scheme may be called the Bank Term Deposit (Amendment) Scheme, 2007. (2) It shall come into force on the date of its publication in the Official Gazette.

Circular No. 574-Income Tax dated 22/8/1990 [Sec 80C deduction available on Life Insurance paid for adult children /married daughter]

August 22, 1990 21452 Views 8 comments Print

Circular : No. 574-Income Tax 1. Section 80C of the Income-tax Act allows, inter alia, deductions while computing the total income of an assessee of any sums paid in the previous year by the assessee individual out of his income chargeable to tax, to effect or to keep in force an insurance on the life of the assessee or on the life of the wife, or husband, or any child of the assessee. Representations have been received by the

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