Deduction for specified savings and investments reduces taxable income when statutory conditions and holding periods are met. Insertion provides a deductible aggregate for individuals and HUFs for specified payments including life insurance premiums, deferred annuity contributions, provident and superannuation fund contributions, notified government securities and savings certificates, unit-linked insurance and mutual fund subscriptions, eligible equity or debenture subscriptions, specified pension and deposit schemes, tuition fees for full-time education, and housing-related instalments and loan repayments, subject to percentage limits on premiums, defined eligible persons, Central Government notifications, and recapture rules for early termination, transfers, or refunds.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deduction for specified savings and investments reduces taxable income when statutory conditions and holding periods are met.
Insertion provides a deductible aggregate for individuals and HUFs for specified payments including life insurance premiums, deferred annuity contributions, provident and superannuation fund contributions, notified government securities and savings certificates, unit-linked insurance and mutual fund subscriptions, eligible equity or debenture subscriptions, specified pension and deposit schemes, tuition fees for full-time education, and housing-related instalments and loan repayments, subject to percentage limits on premiums, defined eligible persons, Central Government notifications, and recapture rules for early termination, transfers, or refunds.
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