Investment Schemes under section 80C

• Premium payments of life insurance
• Maximum of Rs. 70,000/ year in contributions to Employees Provident Fund.
• National Savings Certificates
• Contributions to Employees Provident Fund/GPF
• Unit Linked Insurance plan(ULIP)
• Housing loan repayment (Principal)
• Equity Linked Savings Scheme (ELSS)
• Admission fees or college fees paid for full-time education of any two children of the assessee. (Any development fee or donation will not be eligible for deduction)
• Infrastructure bonds issued by Institution/ Banks such as IDBI, ICICI, REC, PF etc.
• Interest accrued in respect of NSC VIII issue.

Deduction under section 80 CCC (1)                            

Under this section an individual gets a deduction of up to Rs. 10,000 in respect to contribution to ‘Pension’ scheme of LIC of India or any other Insurance Co.

Some of the tax saving pension plans available in market is LIC’s Jeevan Suraksha, ICICI Pru Life Time Pension, Max Easy Life Policy, Aviva Life Pension Plus, Tata AIG’s Nirvana Plus etc.

Deduction under section 80 CCE

Under section 80 C, 80CCC and 80CCD an aggregate deduction ca