claiming under section 80c

Claiming Under Section 80c

As a taxpayer, you are entitled to reduce your tax liability by making certain investments

during the year. Section 80C is specifically meant for claiming deductions in respect of payments/investments such as contribution to Provident Fund, ULIP, ELSS, life insurance

premium, and investments in NSC.   

The complete list of deductions is given below:  year

• Contribution to provident fund

• Life insurance premium for self, spouse or child

• ULIP of UTI

• ULIP of LIC Mutual Fund

• ELSS of MF/UTI

• Annuity Plan of LIC

• Notified Pension Fund

• 10/15 yr CTD account at Post Office

• Deposit Scheme of PSUs Engaged in housing finance

• Deferred annuity

• Approved superannuation fund

• National Savings Certificate (NSC)

• Instalment for purchase/construction of new residential property

• Tuition fee of children

• Investment in public company engaged in infrastructure

• Fixed deposit in bank for tenure of 5 or more years

• Bonds issued by NABARD

39Claim