Section 80C of the Income Tax Act allows a maximum deduction of Rs _________every year from the taxpayer’s total income. The benefit of this deduction can be availed by Individuals and HUFs. Companie…

Question

Section 80C of the Income Tax Act allows a maximum deduction of Rs _________every year from the taxpayer’s total income. The benefit of this deduction can be availed by Individuals and HUFs. Companies, partnership firms, LLPs cannot avail the benefit of this deduction.

PYQPulse · Accepted Answer

D. Rs. 1.5 lakh

Section 80C of the Income Tax Act allows a maximum deduction of Rs _________every year from the taxpayer’s total income. The benefit of this deduction can be availed by Individuals and HUFs. Companies, partnership firms, LLPs cannot avail the benefit of this deduction.

Answer: D. D. Rs. 1.5 lakh