Deductions Allowed for Tax Payers to Save Income Tax
Important Deductions Allowed for Tax Payers include Section 80C (Rs. 1.5 Lacs), Section 80CCD(1B) (Rs. 50,000), HRA, Section 24 (Rs. 2 Lacs).
deductions in 80C
All Deductions in Section 80C & Chapter VI A
Deductions in 80C include, PPF, Provident Fund, Life insurance premiums, ELSS, children’s tuition fees, etc. Claim Rs 1.5 Lacs in 80C and Rs. 50,000 in 80CCD(1B)