What is the maximum limit for claiming deductions under Section 80C in a financial year?
Practice Questions
1 question
Q1
What is the maximum limit for claiming deductions under Section 80C in a financial year?
₹1,00,000
₹1,50,000
₹2,00,000
₹50,000
The maximum limit for claiming deductions under Section 80C is ₹1,50,000.
Questions & Step-by-step Solutions
1 item
Q
Q: What is the maximum limit for claiming deductions under Section 80C in a financial year?
Solution: The maximum limit for claiming deductions under Section 80C is ₹1,50,000.
Steps: 3
Step 1: Understand what Section 80C is. It is a part of the Income Tax Act in India that allows individuals to claim deductions on certain investments and expenses.
Step 2: Know the maximum limit for these deductions. For the financial year, the maximum limit is ₹1,50,000.
Step 3: Remember that this limit applies to the total amount of deductions you can claim under Section 80C in one financial year.
