Question

Explain five important contributions
that are allowed under Sec 80C of
the Income-tax Act.
​

Answer 1

Answer:

Income tax department allows reducing of the taxable income of the taxpayer in case the taxpayer makes certain investments or eligible expenditures allowed under Chapter VI A. 80C allows deduction for investment made in PPF , EPF, LIC premium , Equity linked saving scheme, principal amount payment towards home loan