Section 80C of the income tax act, 1961, comprises of provisions for tax deductions on various payments. The maximum deduction that can be claimed under this section, which is applicable to individuals and Hindu undivided family, is Rs 1,50,000.

Some of the popular investments that are eligible for tax deduction under section 80c are:

• Payment made towards life insurance policies
• Investments in public provident fund
• Investments in unit linked insurance plans (ULIP)
• Investments in employee provident fund
• Payments made towards tax-saving fixed deposits
• Investments in national pension system