List of different derivations under Section 80C | With Automated Income Tax Preparation Software for all State Govt Employee All in One in Excel for the F.Y.2021-22


List of different exceptions under section 80C. The exception under Section 80C Leaves U/S 80C for 

Life Insurance Premium, Commitment to PF, and so forth (Individual/HUF as it were). Discover the 

list of personal expense exclusions under section 80C.

(A) Makes concessions;

(B) A Hindu unified family is dependent upon a limit of one lakh and 50,000 rupees for interest in explicit resources. In this article, Therefore, you can get a list of discounts accessible just to Individuals, a list of discounts accessible to Individuals and HFF, other uncommon focuses for quite a long time. 80C. presently you can look down and check the total list of various deductions under section 80C

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Income Tax Exemption U/s 80C

Should Peruse – Discount for Clinical Insurance Premium U/Sec 80D

In other words, Individual discounts are accessible as it was:

Any instalment made by the individual to keep in actuality a non-movable conceded annuity understanding about the life of the individual, the spouse, any offspring of the individual

However, any sum deducted from the compensation payable by the public authority to pay the commemoration payable to him. In any case, the discount ought not to surpass 1/5 of the compensation.

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https://simpletaxindian.com/Income Tax Section 80C

SPF/RPF commitments.

Commitments to the Endorsed Endorsement Asset.

Public Reserve funds Plan Membership.

NSC membership, even interest in it is qualified for a discount

Shared Asset/UTI Membership Unit

Commitment to Shared Asset/UTI/Benefits Asset set up by Public Lodging Bank

Submitted to Public Lodging Bank, HIDCO

Stores with a PSU giving long haul financing to the development or acquisition of private homes in India.

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Exemption from 80C

For instance, Stores with informed lodging board according to law for arranging, advancement and enlistment of towns/urban areas/towns.

Educational expenses paid for full-time instruction of kids in colleges, universities, schools or other instructive establishments situated in India, for other advancement awards. (Most extreme 2 kids)

Lodging/Consumption

Memberships of approved value offer or elements of any open company or an administration monetary establishment and the whole continuation of the issue are utilized for the full and selective utilization of force age or foundation offices. (Holding period least 3 years)

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https://simpletaxindian.com/Income Tax Section 80C

Term store with a booked bank for somewhere around 5 years.

Educated NABARD Bond Membership.

Stores under the Senior Residents Investment fund Plan.

5-year time store in any record under Mailing station Store Rules.

Should peruse – Genuine instalments dependent on Section 24B discounts

Individual and HFF discounts accessible:

Above all, any sum paid by an individual to apply insurance or power in the life of an individual, In addition, his/her companion, any kid (wedded/unmarried or subordinate/not reliant). On account of HUF, a premium must be paid for the life of any relative.

After that, a premium of over 20% in an insurance strategy isn’t qualified for a premium discount on the life insurance strategy (pertinent for an approach gave before 01/04/2012) Greatest premium discountable = 10% of the insured sum. (15% for people covered by U/s 80U/80DDB)

Similarly, a PPF commitment. At least 2,000 rupees. 500 and greatest Rs. 1 lakh rupees

LIC/UTI’s ULIP commitment and proceeded for at least 5 years.

Add to the insurance organizations’ yearly plans.

Should peruse – Discount for awards under section 80G

Different focuses for quite a long time is 80C

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Income Tax

As far as possible under this section is 2014-1. Financial year/appraisal year 2011-16-1 from 1.50 lakh. 2014-1. The cutoff before the monetary year was Rs1 lakh. Many little reserves funds plans like NSC, PPF and other annuity plans under this heading are likewise qualified for an exception under section 80C for the instalment of life insurance premiums and interests in certain administration framework securities.

On the off chance that the appraiser moves HP, no waiver is guaranteed, before the termination of the five-year term toward the finish of the monetary year, where the public property was procured. No concession will be permitted in the house to which the place of PIO is moved. The measure of discount permitted in earlier years will be treated as the payment of the appraiser of PY, where the house is moved.

In conclusion. in the event that a part taking an interest in ULIP ends before 5 years of commitment, similar treatment as given in point 2 will be given.

The discount is accessible just if the earlier year for example 31st Walk or prior is paid/contributed.

Income Tax Deduction  80C
Income Tax Section 80CCD
https://simpletaxindian.com/Income Tax Deduction Chapter Vi A
https://simpletaxindian.com/Income Tax Section 80c
Income Tax Deduction U/s 80C

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