Business Standard
You are here » Home » Section-80-deductions

WHAT ARE SECTION 80 DEDUCTIONS?


Section 80 under Income Tax Act, 1961 allows taxpayers to avail tax exemptions and lower their taxable income. Investing in certain activities makes the taxpayer eligible to avail tax deductions of up to Rs 150,000 in a financial year under Section 80 C.
 
Taxes form an important part in governing a country. They allow the government to provide and develop basic infrastructures and facilities to the citizens, which help the country progress. However, taxes can sometimes be complicated and can be seen as burning a hole in taxpayers’ pockets. To balance the needs of the taxpayers, the government in India introduced Section 80 deductions. There are various types of deductions which the taxpayers can avail under Section 80.
Read More..

LATEST UPDATES ON SECTION 80 DEDUCTIONS


No article available in this category.