It’s that time of the year again. Make the right investment decisions to reduce your tax liability. The provisions under Section ‘8O C’ can help you reduce your taxable income upto Rs. 1 Lac and resultantly a lesser tax outflow.

For your benefit we have listed all investments / expenses that qualify under Section 80 C.

Section 80 C

1)       Life Insurance and ULIP Premium

2)       Pension Plan/National Pension System

3)       Tax Exempt Mutual Funds (ELSS)

4)       FD above 5 years in Scheduled banks

5)       Infrastructure Bonds

6)       NSC Purchase

7)       NSC Interest

8)       Post Office SB (Cumulative Time Deposit)

9)       Annuity Plan for LIC

10)   Approved Superannuation Fund

11)   Deferred Annuity

12)   Public Provident Fund – Maximum allowed: Rs. 70,000/-

13)   Recognised Provident Fund

14)   Statutory Provident Fund – the employee contribution that gets deducted from your salary

15)   Housing Loan Principal Repayment

16)   Tuition fees – Only Tuition fees excluding Development Fees, Donations, etc. Maximum allowed: Rs. 24,000/-

17)   Expenditure on Children Education – Upto Rs. 200 per month for upto 2 children

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