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Q.

NABARD Bonds and Senior Citizen Bonds are eligibale for deduction u/s80C

Tags: money, education, science
Asked by bapurao raut, 03 Feb '10 03:03 pm
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Answers (1)

1.

Section 80C of Income Tax Act, 1961, sets out a number of options or tax-saving instruments that are eligible for tax deduction. Broadly, we can divide tax-saving avenues into two categories: first is expenditure related deductions such as tuition fees and home loan principal repayment; and second is investment instruments or options such as EPF (Employees provident fund), VPF (Voluntary provident fund), PPF (Public Provident Fund), NSC (National Savings Certificates), ULIPs (Unit-linked insurance plans), ELSS (Equity linked savings scheme), SCSS (Senior Citizens Savings Scheme), 5-Yr POTD (Post office time deposits), 5-Yr tax-saving fixed deposits (FDs) of banks, Mutual funds pension plans , NABARAD (National Bank for Agriculture and Rural Development) Rural Bonds and life insurance premium.
Answered by RANJAN KARNAD, 03 Feb '10 04:20 pm

 
  
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