CBSE BOARD XII, asked by geetanand13p5lzm8, 13 hours ago

deduction u/s 80c in respect of life insurance premium contribution to provident fund is allowed to etc. is allowed ( assuming assessee has not opted for section 115BAC of income tax act, 1961)

Answers

Answered by aaryaniyer24

Answer:

An employee's contribution to the Employee Provident Fund (EPF) account also earns a tax break under Section 80C of up to Rs 1.5 lakh. This amounts to 12% of salary that is deducted by an employer and deposited in the EPF or other recognised provident funds.

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