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Meaning Individual or Hindu undivided family can claim deduction under section 80C. The qualifying amount under section 80C of income tax act is deductable form gross total income. Deduction is available on the basis of qualifying investment, contribution or payment made by taxpayer during financial year. Maximum amount deductable Maximum amount deductable under section 80C … Read more
A. For resident individual (male or female) who is not senior citizen and HUF, AOP, BOI and AJP: Net Income Income Tax Rate Surcharge Up To Rs. 2 Lacks NIL NIL Rs.2 Lacks to Rs.5 Lacks 10% of (total income – Rs. 2 Lacks) NIL Rs.5 Lacks to Rs.10 Lacks Rs.30,000 + 20% of … Read more