80C deduction mandatory

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Section 80C deductions are not mandatory, even under the old tax regime. While they can significantly reduce your taxable income and tax liability, you have the option to claim them. The new tax regime does not allow for 80C deductions at all. If you choose to claim it, ensure your eligible investments or expenses are made within the specified timeframes.

Nisha Kathuria

Nisha Kathuria (Querist)
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29 April 2023 Dear Sir,

Its mandatory to Claim 80C deduction Can We file ITR without Claim 80C deduction taxable income before 80C deduction Rs.410000/-

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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29 April 2023 Sec. 80C deduction is not mandatory, even in Old tax regime, while new tax regime do not allow such deduction at all.

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CA Sanat Pyne

CA Sanat Pyne (Expert)
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29 April 2023 It is not mandatory to claim this deduction, it can be beneficial for taxpayers as it helps to reduce their taxable income and hence, their tax liability. Taxpayers may choose to claim this deduction based on their individual financial situation and investment needs. However, it is important to note that if a taxpayer wishes to claim the deduction under section 80C, they must make the eligible investments or expenses within the specified time frame as mentioned in the Income Tax Act.

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Nisha Kathuria

Nisha Kathuria (Querist)
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29 April 2023 Thank you Very much Sir,

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Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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29 April 2023 You are welcome.

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