What is the upper limit /maximum deduction under section 80C?

in progress 0
ROHAN 5 months 1 Answer 42 views 0

Answer ( 1 )

  1. As per the section 80C of the Act, the deduction is available only to an Individual or a Hindu Undivided Family (HUF)  and deduction does not exceed Rs. 1,50,000 during a previous year. Taxpayer is eligible for deduction if contribution/deposits/investments / payment made during the previous year. Tax payer should made investments/deposits  out of his taxable income or otherwise.

Leave an answer