Law · Tax (Direct)

Section 80C Income Tax Act — Deductions — Investments

Deduction up to ₹1.5 lakh for LIC, PPF, ELSS, NSC, home loan principal etc. (Income Tax Act, 1961)

Type: noun Branch: Tax (Direct) Level: Intermediate Jurisdiction: India

Pronunciation: 🇺🇸 US/ˈsɛkʃən si ˈɪnkəm tæks ækt dɪˈdəkʃənz ɪnˈvɛstmənts/ 🇬🇧 UK/ˈsɛkʃən si ˈɪnkəm tæks ækt dɪˈdəkʃənz ɪnˈvɛstmənts/

Definition

Deduction up to ₹1.5 lakh for LIC, PPF, ELSS, NSC, home loan principal etc. (Income Tax Act, 1961)

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