80C Deduction List PDF

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80C Deduction List

Every Tax Payer persons must know about the section 80C Deduction under chapter VI of the Income Tax Act. Section 80C is one of the most popular and favourite sections amongst the taxpayers as it allows to reduce taxable income by making tax saving investments or incurring eligible expenses. It allows a maximum deduction of Rs 1.5 lakh every year from the taxpayers total income.

Who Can Claimed 80C Section:- The benefit of this deduction can be availed by Individuals and HUFs. Companies, partnership firms, LLPs cannot avail the benefit of this deduction. Section 80C includes subsections , 80CCC, 80CCD (1) , 80CCD (1b) and 80CCD (2).It is important to note that overall limit including the subsections for claiming deduction is Rs 1.5 lakh except an additional deduction of Rs 50,000 allowed u/s 80CCD(1b)

80C Deduction List PDF - 2nd Page
Page No. 2 of 80C Deduction List PDF

Section 80C Deduction List

Eligible investments for tax deductions
80 C80C allows deduction for investment made in PPF , EPF, LIC premium , Equity linked saving scheme, principal amount payment towards home loan, stamp duty and registration charges for purchase of property, Sukanya smriddhi yojana (SSY) , National saving certificate (NSC) , Senior citizen savings scheme (SCSS), ULIP, tax saving FD for 5 years, Infrastructure bonds etc
80CCC Deduction for life insurance annuity plan.80CCC allows deduction for payment towards annuity pension plans Pension received from the annuity or amount received upon surrender of the annuity, including interest or bonus accrued on the annuity, is taxable in the year of receipt.
80CCD (1) Deduction for NPSEmployee’s contribution under section 80CCD (1) Maximum deduction allowed is least of the following

  • 10% of salary (in case taxpayer is employee)
  • 20& of gross total income (in case of self employed)
  • Rs 1.5 Lakh ( limit allowed u/s 80C)
80CCD (1b) Deduction for NPSAdditional deduction of Rs 50,000 is allowed for amount deposited to NPS account

Contributions to Atal Pension Yojana is also eligible for deduction.

80CCD (2) Deduction for NPSEmployers contribution is allowed for deduction upto 10% of basic salary plus dearness allowance under this section. Benefit in this section is allowed only to salaried individuals and not self employed.

80C Deduction List PDF

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80C Deduction Full List PDF

80C Deduction Full List PDF

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Added on 25 Nov, 2021 by pk

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