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Monday, August 9, 2010

Tax Rebates under Indian Income Tax Act Specified Investment Schemes u/s 80C

■Life insurance premium payments

■Contributions to Employees Provident Fund (EPF) / GPF

■Public Provident Fund (maximum Rs 70,000 in a year)

■National Saving Certificates including accrued interest. [NSC]

■Unit Linked Insurance Plan (ULIP)

■5-Year fixed deposits with banks and Post Office

■Repayment of Housing Loan (Principal)

■Senior Citizens Savings Scheme (SCSS)

■Equity Linked Savings Scheme (ELSS)

■National Pension Scheme (NPS)

■Tuition Fees including admission fees or college fees paid for Full-time education of any two children of the assessee (Any Development fees or donation or payment of similar nature shall not be eligible for deduction).

■Infrastructure Bonds issued by Institutions/ Banks such as IDBI, ICICI, REC, PFC etc.

http://savingwala.com/

■Interest accrued in respect of NSC VIII issue

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