Glossary term
Section 80C
Section 80C of the Income Tax Act 2025 allows a deduction of up to ₹1.5 lakh per financial year from your gross total income for specific investments and payments. Qualifying items include: life insurance premiums, PPF contributions, ELSS mutual funds, EPF contributions, home loan principal repayment, NSC, tax-saving fixed deposits, and children’s tuition fees. This deduction is available in the old tax regime but is not available in the new regime under Section 202.
Related terms
- Section 87A Rebate
A tax rebate that reduces your tax to zero if your taxable income is up to ₹12 lakh.