Understanding Section 80C Tax Deductions in India

Tax Deductions - Tax Deductions in India - Understanding Section 80C - taxscan

Section 80C of the Income Tax Act of India provides deductions for certain expenditures and investments, allowing individuals and Hindu Undivided Families to reduce their taxable income by up to Rs 1.5 lakh annually. This provision does not extend to corporate bodies, partnership firms, or other businesses. Section 80C allows for tax exemptions on specific…

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