What all investments are considered for Deduction u/s 80C? What is the limit of Deduction u/s 80C?
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Following are some of the payments / investments allowable as Deduction u/s 80C.
- Life Insurance Premium payment.
- Contribution to employees provident fund.
- Contribution to approved superannuation Fund.
- Subscription to units of UTI or Mutual Funds.
- Contribution to public provident fund.
- Payment of tuition fees of Son / Daughter to School, College or University.
- Repayment of Principal of Housing Loan.
- Stamp duty, registration fee and other expenses for purchase of house property.
- A Fixed Deposit for Term not less than 5 years with any scheduled Bank.
- Sukanya Samriddhi Yogana/scheme
The maximum amount deductible under section 80C is INR 1,50,000/-.
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