Total deduction under 80c

Gentlemen,

My Income is 12 lacks from rendering consultancy service abroad to US

do I need to pay tax ? How Can Plan

I can not take home loan till 2 years 

what is maximum limit agains all ITR code like 80 c 80ccd  and others

plase guide me on this 

thanks

 

Replies (2)

Sir, 

 U cant avoide paying tax but u can reduce the tax burden by showing 1The total limit under this section is Rs 1.50 lakh from Financial year 2014-15 / Assessment Year 2015-16. Before FY 2014-15 the limit was Rs. 1 Lakh. But you need to have the following items out of the following list to claim deduction 

Payment of life insurance premiums and investment in specified government infrastructure bonds are also eligible for deduction under Section 80C.

Payments towards the education fees for children eligible for an income deduction.

Qualifying Investments

Provident Fund (PF) & Voluntary Provident Fund

Public Provident Fund (PPF)

Life Insurance Premiums

Equity Linked Savings Scheme (ELSS)

Infrastructure Bonds

Pension Funds

NABARD rural bonds

you are true,

but i think can i claim deduction of my mutual funds investment 

which is around 70 k via SIP every month 

I have some of them are tax saving funds which have three years lock in perioud 

i know i can claim those investmenet for tax saving . but want to know for other mutual funds investments too.

also if u can give with limit of saving as how much under including all applicable  section can be saved . 

thanks

 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 18 September 2026
Industrial Trainee

Twenty Point Nine Five Ventures Private Limited

Noida

CA Inter

View Details
Company
08 September 2026
Audit Executive

Thammana & Associates

Srikakulam

B.Com

View Details
Company
22 September 2026
Account Assistant

Chirag P Shah & Co. Chartered Accountant

Pune

B.Com

View Details
Company
ARTICLESHIP 21 September 2026
CA Article Assistant

KK & Company Chartered Accountant

Pune

CA Inter

View Details
Company
26 September 2026
Chartared Accountant

pushpganga ventures

Pune

CA

View Details
Company
ARTICLESHIP 07 September 2026
CA Articles

Kothari Jain Patil & Chartered Accountants

Pune

CA Inter

View Details
Company
ARTICLESHIP 15 September 2026
Freelance Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 16 September 2026
CA Article Trainee

SR BAGAI & Co.

New Delhi

CA Inter

View Details