Section 80C is the most important section under which one claims income tax. One gets a rebate upto Rs 1 Lakh under sec 80C which generally gets revised every year after budget. Like last year we had an additional income tax rebate of Rs 20000 for investing in infrastructure bonds and this relief was over and above Rs 1 Lakh limit available under section 80C.
Where I can Invest to Get Income Tax Rebate u/s 80C?
To make use of Rs 1 Lakh investment, you can invest in either PPF, insurance, Pension funds, superannuation funds, NSC and band FDs and ELSS etc.