SECTION 80C DEDUCTION SAVE TAX UP TO 1.5 LAKH-2022
- In computing the total income of an assessee, being an individual or a Hindu undivided family, there shall be deducted, in accordance with and subject to the provisions of this section, the whole of the amount paid or deposited in the previous year, being the aggregate of the sums referred to in sub-section (2), as does not exceed one hundred and fifty thousand rupees.
- The sums referred to in sub-section (1) shall be any sums paid or deposited in the previous year by the assessee.
Life insurance premium
Equity Linked Savings Scheme (ELSS MUTUAL FUND)
Employee Provident Fund (EPF)
Annuity/ Pension Schemes
Principal payment on home loans
Tuition fees for children
Contribution to PPF Account
Sukanya Sam Riddhi Account
NSC (National Saving Certificate)
Fixed Deposit (Tax Savings)
Post office time deposits
National Pension Scheme
stamp duty, registration fee, and other expenses for transfer of such house property to the assessee.
Author : Uttam Bisht
11 February, 2024 | 11:28 PM
Mr. Uttam Bisht is a partner with the Delhi Branch of the firm. He has more than 8 years of experience and specializes in Statutory Audit. Expertise in Tax audit of various enterprises. Extpertise internal audit of Private enterprises. Audit planning through business understanding, preliminary analytical procedures, determining materiality levels, and preparation of audit program and pre-audit checklist . He is well conversant with the auditing standards issued by ICAI. .
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