What are the Deductions Under Sections 80C and 80U?
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Table of Contents
How do Tax Deductions Work?
Section 80C Tax Deductions
Section 80U Tax Deductions
Conclusion
Frequently Asked Questions
- Contribution to the Provident Fund or Superannuation
- The purchase of life insurance for oneself, one's spouse, or one's children.
- Payment for the education of up to two children's tuition expenses
- Payment for a fixed deposit with a five-year minimum term
- Payment for a residential property's development or acquisition
- Additional deductions for mutual fund investments, NABARD bond purchases, Senior Citizens Savings Programs, etc.
- Employee Provident Fund (EPF)
- Public Provident Fund (PPF)
- Voluntary Provident Fund (VPF)
- The home property's building is now complete.
- The move has already happened.
- These charges have been made in your honour.
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ABSLI DigiShield Plan
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Disclaimer
ABSLI DigiShield Plan. This is a non-linked non-participating individual pure risk premium life insurance plan; upon Policyholder’s selection of Plan Option 9 (Level Cover with Survival Benefit) and Plan Option 10 (Return of Premium [ROP]) this product shall be a non-linked non-participating individual life savings insurance plan. UIN: 109N108V11
^ ABSLI DigiShield Plan scenario: Female, non smoker, Age: 21 years, level Term Insurance, Premium paying Term: regular pay, policy term: 25 years, Pay frequency: Annual Premium of Rs. 6500/12 months (on average Rs. 542/month) Exclusive of GST (offline premium).
~ Our life insurance policies cover COVID -19 claims under life insurance claims, subject to applicable terms & conditions of policy contract and extant regulatory framework.
ADV/6/23-24/546
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