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What is Income Tax Deductions Explained about?
This document provides information on various tax deductions available under Section 80C to 80U of the Indian Income Tax Act of 1961. It summarizes the key deductions as follows: 1. Section 80C allows deductions up to Rs. 100,000 for investments/payments related to life insurance, provident fund, public provident fund, equity shares, tuition fees etc. 2. Section 80D provides a deduction of up to Rs. 25,000 for health insurance premiums paid. Additional deductions are available for insurance of senior cit
- Author
- guest1
- Language
- EN