Which of the following deductions is available under Section 80C of the Income T

₹0.0

Question: Which of the following deductions is available under Section 80C of the Income Tax Act?

Options:

Correct Answer: Public Provident Fund (PPF) contributions

Solution:

Public Provident Fund (PPF) contributions are eligible for deduction under Section 80C.

Which of the following deductions is available under Section 80C of the Income Tax Act?

Which of the following deductions is available under Section 80C of the Income Tax Act?

Step 1: Understand what Section 80C of the Income Tax Act is. It allows taxpayers to claim deductions on certain investments and expenses.
Step 2: Identify the types of investments that qualify for deductions under Section 80C. These include Public Provident Fund (PPF), Life Insurance Premiums, National Savings Certificates (NSC), and Equity Linked Savings Schemes (ELSS).
Step 3: Focus on the specific option given in the question. In this case, we are looking for deductions related to Public Provident Fund (PPF) contributions.
Step 4: Confirm that contributions made to the Public Provident Fund (PPF) are indeed eligible for deduction under Section 80C.
Step 5: Conclude that the answer to the question is that PPF contributions are available for deduction under Section 80C.

No concepts available.