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First documentSection 80C of Income Tax Act: Deductions & Tax Benefits in IndiaOpen original ↗
A-960
Second documentTax Saving Plans & Best Tax Saving Schemes in India FY 2026-27Open original ↗
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100.0%Page comparison
Paragraph matches
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First paragraph42 words
Section 80C: Meaning & Deductions under Section 80C
Section 80C of the Income Tax Act is a section that includes various expenditures and investments to be exempted from Income Tax. Section 80C allows a maximum deduction up to ₹1.5 lakhs per year from an investor’s total taxable income.
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Second paragraph31 words
Income Tax Investments Under Section 80C
For those wondering what is Section 80C-, it is a provision under the Income Tax Act 1961 that allows a tax deduction of up to ₹ 1.5 lakh on eligible investments.
First paragraph62 words
Deductions on Investment under Section 80C List
Investment in ULIPs: Unit Linked Insurance Plans (ULIPs) offer two-pronged benefits of both insurance and investment. While part of one’s premium is invested in insurance, the other portion is invested in market-linked funds. Premiums paid toward ULIPs taken in the name of self, spouse, or child are eligible for deduction as per Section 80C of the Income Tax Act.
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Second paragraph63 words
Unit-Linked Insurance Plan (ULIP)
Premiums paid towards ULIPs are eligible for tax deduction under Section 80C, subject to an overall limit of ₹1.5 lakh, provided the policy conditions are met. ULIPs have a mandatory lock-in period of five years. Maturity proceeds and death benefits may be tax-exempt under Section 10(10D), subject to applicable premium and policy conditions as per current income tax rules.
First paragraph86 words
Deductions on Investment under Section 80C List
Amount invested in Sukanya Samriddhi Yojana (SSY): Investments made towards the Sukanya Samriddhi Yojana are eligible for deductions under Section 80C of the Income Tax Act. The Sukanya Samriddhi Yojana is a savings account scheme which can be opened in the name of a girl child till she reaches the age of 10. An account can be opened for no more than two girls (three in case the first two are twins). With the SSY, one can avail high interest rates of up to 8.5%.
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Second paragraph51 words
Sukanya Samriddhi Yojana
Sukanya Samriddhi Yojana is a small savings scheme, backed and promoted by the Government of India. As a parent or legal guardian of a girl child below the age of 10, you can open a Suknya Sammriddhi Account in a post office or authorised bank in the name of the child.
First paragraph75 words
Deductions on Investment under Section 80C List
Investment in ELSS: Equity Linked Savings Schemes are mutual funds that can be filed for tax deduction under Section 80C. They come with a lock-in period of 3 years. They are equity-linked and hence have chances of higher returns (along with higher risk). There is no limit on the amount that can be invested in ELSS. Returns above the ₹1 lakh threshold are subject to a 10% LTCG ( Long-Term Capital Gains ) tax.
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Second paragraph60 words
Equity-Linked Saving Scheme (ELSS)
An ELSS is a tax-saving, open-ended mutual fund scheme that invests at least 80% of its assets in equities. It is one of the most effective tax-saving investments for investors with a high-risk appetite. The main incentive in an ELSS fund is the possibility of a high long-term returns due to heavy investment in equity.
First paragraph114 words
Deductions under Sub-sections of Section 80C
Section 80CCD: Section 80CCD(1)- Employee Contribution: Tax can be deducted on the amount deposited in the account under your pension scheme . The maximum deduction would be the lesser of 10% of the salary (for salaried employees) or 20% of the gross total income (for self-employed individuals) or Rs. 1.5 lakh. Section 80CCD(1B) - Self Contribution: This section provides an added deduction of upto Rs.50,000 on a deposit in the NPS (National Pension Scheme) or Atal Pension Yojana account. Section 80CCD(2) - Employer’s Contribution: An additional deduction can be claimed on employer’s contribution to the pension account for upto 10% of the salary. There is no deduction limit.
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Second paragraph55 words
National Pension Scheme (NPS)
The account holder/employee’s contribution is eligible for a tax deduction under Section 80CCD(1) of the Income Tax Act. The maximum deduction that can be claimed is 10% of the salary (basic plus DA). If the investor is self-employed, deductions can be claimed for contributions up to 20% of the gross income.
First paragraph87 words
What is Section 80C?
Section 80C allows deductions on certain investments up to ₹1.5 lakhs per annum from your total taxable income. This section is especially popular among taxpayers as it allows for deductions from gross total income. You can invest your savings in the Section 80C eligible options or spend money on eligible expenses to avail of the deductions. The deduction under Section 80C will reduce your gross total income or taxable income. Thus, you can save tax every year based on the investments and expenses in this section.
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Second paragraph42 words
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.