Schedule 80C – Deduction under Section 80C AY 2026-27

‘Schedule 80C’ in the Income Tax Return pertains to deductions available under Section 80C, which includes investments or payments such as life insurance premium, contributions to provident funds, and deferred annuity schemes. The assessee is required to furnish the eligible amount being claimed as deduction along with the corresponding policy number or document identification number wherever applicable.

• Section 80Cof Income-tax Act, 1961

An Individual or HUF is eligible to claim deduction of Rs. 150,000 for certain investments, deposits or payments. The deduction is allowed under this provision for making payment for the life insurances, education expenses, contribution to provident fund, repayment of housing loan, contribution to certain small saving schemes, contribution to pension funds, or fixed deposits.

This schedule applies to ITR-1 and ITR-4