What are Sections 80C and 80D?

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Information on tax saving sections, section 80C, section 80D and section 80CC.

Transcript

What are Sections 80C and 80D? We all have tendency to save money especially where the government allows us to do so! The laws such as Sections 80C, 80D and 80CCC are the best ways to save your taxes. There are various expenditures and investments which are exempted from Income Tax under the Section 80C of the Income Tax Act of India. Under section 80C you can invest in ULIPs, Fixed deposits, and much more to save taxes. The section 80D of the Income Tax of India is related to the tax deduction related to the medical insurance policies. The amount you invest in a life insurance pension policy is allowed for deduction under Section 80CCC is a Section of the Income Tax Act, 1961. To save taxes we need to understand these in detail. We also need to learn about maximum limits and who all are included in these sections. Don't worry we are here to help you. Read about importance and journey of taxes and how to save them on Smart Money by Angel Broking and put it to actionable use.

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