What is 80C?

You can claim a deduction of Rs 1.5 lakh your total income under section 80C. In simple terms, you can reduce up to Rs 1,50,000 from your total taxable income, and it is available for individuals and HUFs.

These are investments covered under section 80C:

• Investment in PPF
• Employee’s share of PF contribution
• NSCs
• Life Insurance Premium payment
• Children’s Tuition Fee
• Principal Repayment of home loan
• Investment in Sukanya Samridhi Account
• ULIPS
• ELSS
• Sum paid to purchase deferred annuity
• Five year deposit scheme
• Senior Citizens savings scheme
• Subscription to notified securities/notified deposits scheme
• Contribution to notified Pension Fund set up by Mutual Fund or UTI.
• Subscription to Home Loan Account Scheme of the National Housing Bank
• Subscription to deposit scheme of a public sector or company engaged in providing housing finance
• Contribution to notified annuity Plan of LIC
• Subscription to equity shares/ debentures of an approved eligible issue
• Subscription to notified bonds of NABARD