Section 80C
Definition
Income tax deduction up to ₹1.5 lakh for investments in specified instruments like ELSS, LIC, PPF, NSC, and EPF. Available only under the Old Tax Regime.
In Context
Section 80C is the most widely used deduction. You can combine ELSS, PPF, LIC, and EPF contributions to reach the ₹1.5L limit. NOT available if you choose the New Tax Regime.
Related Terms
Want this in plain language?
Ask Kuber.AI to explain how Section 80C works, in the language you think in.
Download Kuber.AI
⚠️ Disclaimer: This glossary is for educational purposes. Simplify Money provides analytical insights and guidance. We have applied for SEBI RIA registration.