2025Section 123
123. Deduction for life insurance premia, deferred annuity, contributions to provident fund, etc.
In the 1961 Act3 matches · Unreviewed
- 1961 Section 80C
- 1961 Section 80CCC
- 1961 Section 80CCE
From the Income Tax Department's correspondence.
An individual or a Hindu undivided family, shall be allowed a deduction of the whole of the amount paid or deposited in the tax year, being the aggregate of the sums enumerated in Schedule XV, as does not exceed Rs. 150000, while computing the total income for that year, subject to the conditions specified in that Schedule.