WebJan 31, 2024 · An equity-linked savings scheme or ELSS is a mutual fund class that offers tax rebate under Section 80C of the Income Tax Act, 1961. You can claim tax deductions of up to Rs 1.5 lakh a year by investing in ELSS. ELSS mutual funds have the potential to offer the highest returns among all Section 80C investments. WebJan 25, 2024 · Currently, Section 80C allows a maximum deduction of INR 1.5 lakh from the gross total, which generally gets exhausted through Provident Fund (PF) contributions, tuition fee expenses, payment...
Section 80CCC : Pension plans under Section 80CCC of the …
WebMay 31, 2005 · Your PF contribution is covered under the Rs 1,00,000 limit of Section 80C, provided it is made to a recognised provident fund. To better understand Section 80C, … WebDec 8, 2024 · Section 80C of the Income Tax Act provides tax deduction up to Rs1.5 lakhs to individuals and HUF. The tax deductions provide a means for individuals to reduce … thracian gold swivel ring
Section 80C - Income Tax Deduction Under Section …
WebThe maximum tax deduction allowed under Section 80C for a tax-saving FD is ₹1.5 Lakh on the principal amount. The returns of such investments are liable for tax. Employee Provident Fund (EPF) The returns earned from an EPF, including the interest, are eligible for Section 80C deductions. WebAnswer (1 of 7): Yes, Provident Fund (PF) contributions made by an individual fall under the Section 80C tax deduction. The contribution made towards Employees' Provident … WebThe Voluntary Provident Fund (VPF) is one of the tax-saving investments covered under Section 80C of the Income Tax Act, 1961. It offers tax deductions of up to Rs 1,50,000 a year and taxpayers can save up to Rs 46,800 a year in taxes. The sovereign guarantees back the EPF investments, and hence, they are absolutely safe. thracian gold honey