Paragraph match score 90.5%
Page A-960
How to Save Tax with Saving Plans?
Section 80C, 80CCC and 80CCD(1) allow an aggregate deduction upto ₹ 1.5 lakh per financial year on eligible investments. These sections cover a wide variety of investment options, ranging from a simple life insurance plan to a hybrid ULIP among others.
Page A-863
How will the Income Tax act of 1961 help you to save tax?
The sections 80C, 80CCC, and 80CCD(1) allow every individual a deduction up to ₹ 1,50,000 (which was 1 lakh till FY 2014-15) in a fiscal year. These sections allow you to invest in a wide range of investment options, starting from simple life insurance to hybrid ULIP , even pension plans, among others. You can easily save money by investing in any of these financial instruments.