New Delhi, May 3 -- Section 80C of the Income-Tax Act allows some of your investments to be eligible for deduction of up to Rs.1.5 lakh when your annual income for a fiscal or assessment year is calculated. When combined with other the other deductions, exemptions and rebate options, it allows taxpayers to their liability for the financial year.

In the new ITA 2025 implemented from April this year, the provision has been outlined under Section 123. Notably the provision is only available under the old tax regime.

A key feature of investment tools that are allowed for Section 80C deductions is that these offer dual advantage of tax saving while giving an interest income at the same time. Further, you can also claim additional Rs.50,000 d...