Maximum Income Tax deduction allowed under section 80C is Rs. 1,00,000 in financial years 2008 / 2009 and also in 2009 / 2010. Life Insurance premia, ELSS, Bank deposits (>5 yr.), tution fees, principal part of EMI on housing loan, etc. Maximum tax deduction or tax exemption limit: Rs. 15000 (tax exemption limit for senior citizen is Rs. 20000)
Maximum Income Tax deduction allowed under section 80C is Rs. 1,00,000 in financial years 2008 / 2009 and also in 2009 / 2010. Life Insurance premia, ELSS, Bank deposits (>5 yr.), tution fee…