Question

3) For different types of investments, what is maximum permissible amount under section 80 C of
income tax ?
write answer step by step​

Answer 1

Answer:

Section 80C :Investment in ELSS Fund or Tax Saving Mutual Fund is considered as the best tax saving option. These funds are specially designed to give you dual benefit of saving taxes and getting higher returns on investment.

1) Invest in ELSS and save upto Rs 46,800 in taxes

2) Lowest locking period of 3 years

3) Delivered historically higher returns than FD, PPF or NPS

4) Interest earned is partially taxable