Deductions available to Individual and HUF under Income Tax Act for AY 2015-16 (Section 80C)

Following deductions are available to Individual and HUF under section 80C: 1.       Life insurance premium for policy: a)      in case of individual, on life of assessee, assessee’s spouse and any child of assesse b)      in case of HUF, on life of any member of the HUF 2.       Sum paid under a contract for a deferred…