What is the upper limit /maximum deduction under section 80C?
Amarjeet
Answered on February 05,2020
Answered on February 05,2020
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.
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