FinLexicon Term Details

Section 80C

It is useful only when it fits the taxpayer's regime, goals, and product suitability.

Category: Tax Planning Difficulty: Beginner 1 min read Sample Term

Definition

Section 80C refers to Indian income tax deductions available for selected investments and expenses.

Case Study

An investor may use ELSS, provident fund, or life insurance premiums toward the eligible limit.

Historical Reference

Tax-saving behavior in India has often centered around the 80C deduction basket.

Illustration

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