Section 80C contributions

One of most understood and widely used section is 80C. In this section, we will just touch upon the points which are really well known and will explain the ones which are not so well known.

Really Well known:

  • LIC policy: for you, your wife, children and parents.
  • Providend Fund.
  • PPF
  • NSC

Not Very well known:

  • School Fees: If you have school/college going children, you can add it here.
  • Principal paid to set off any housing loan.

2 Responses to Section 80C contributions

  1. Amit Sawhney July 19, 2011 at 10:10 am #

    What about ELSS?

  2. cleartax August 12, 2011 at 7:32 pm #

    Amit: Good point, ELSS is valid for investment under Section 80C.