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What is the maximum deduction available under Section 80C for investments in spe

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Question: What is the maximum deduction available under Section 80C for investments in specified financial instruments?

Options:

  1. Rs. 1,50,000
  2. Rs. 2,00,000
  3. Rs. 50,000
  4. Rs. 1,00,000

Correct Answer: Rs. 1,50,000

Solution: 

The maximum deduction available under Section 80C for investments in specified financial instruments is Rs. 1,50,000.

What is the maximum deduction available under Section 80C for investments in spe

Practice Questions

Q1
What is the maximum deduction available under Section 80C for investments in specified financial instruments?
  1. Rs. 1,50,000
  2. Rs. 2,00,000
  3. Rs. 50,000
  4. Rs. 1,00,000

Questions & Step-by-Step Solutions

What is the maximum deduction available under Section 80C for investments in specified financial instruments?
  • Step 1: Understand that Section 80C is a part of the Income Tax Act in India.
  • Step 2: Know that Section 80C allows taxpayers to claim deductions for certain investments.
  • Step 3: Identify the maximum amount you can claim as a deduction under Section 80C.
  • Step 4: Remember that the maximum deduction limit is Rs. 1,50,000.
  • Step 5: Ensure that your investments are in specified financial instruments to qualify for this deduction.
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