About 80 C Income Tax Deposit Scheme
This is a fixed deposit scheme falling under the ambit of Section 80C of the Income Tax Act, 1961. This act offers a certain amount of deduction from the income tax on some expenditures or investments such as the PPF, SCSS, NSC, pension plans, etc. this scheme is beneficial for all the working individuals who pay income tax, since they can obtain a financial gain of up to Rs. 1.5 lacs with the help of this scheme, since that amount will not be deducted in form of income tax for the customer. In case of joint accounts, only the first holder gets tax deductions under this scheme.