Prøve GULL - Gratis
Section 80C: Hoping For More
Outlook Money
|February 2024
There isn't much in the offering for taxpayers when it comes to Section 80C benefits. For long, the limit has remained fixed at ₹1.5 lakh, though average income has grown manifold

The penny has dropped. There seems to be no specific scope for insurance in the grand scheme of things related to tax savings, as legislated by the authorities, apart from what is being already offered.
This cold-shouldering is in stark contrast to the expectations that have built up in various pockets of the insurance sector. The latter, now greatly focused on the retailisation in the mass market, had strongly urged the government to broaden the scope of tax sops as fresh incentives for higher sales.
What might seem odd in this context is the near-absence of any particular incentive for the average taxpayer, troubled though he is with only a handful of options. Many of these stem from the fabled Section 80C of the Income-tax Act, 1961.
For the record, the scope of such options has remained range-bound for long, resulting in a demand for its expansion.
Those who believe in insurance, not to mention mutual funds, as a savings option, are especially constricted in the process. These are absolutely ordinary Indians who are now willing to leverage their investments for growth, incomegeneration and tax savings-not necessarily in that order.
Here we are primarily concerned with the average tax saver in this context. He is fully aware of the limited space he is currently operating from. But in reality, that space has not grown in size and stature for years. To cut a long story short, admissible savings under the relevant section (Section 80C) has stayed restricted to ₹1.50 lakh for a long time. Meanwhile, average income has grown, lending credence to the belief that ordinary Indians now not only need a higher savings limit, but also a larger basket of taxefficient instruments.
Denne historien er fra February 2024-utgaven av Outlook Money.
Abonner på Magzter GOLD for å få tilgang til tusenvis av kuraterte premiumhistorier og over 9000 magasiner og aviser.
Allerede abonnent? Logg på
FLERE HISTORIER FRA Outlook Money

Outlook Money
Gold vs Real Estate: What You Should Know
Both gold and real estate have long been preferred investment choices for Indians. They hold sentimental value, too. We compare the two and assess if one or both assets can complete your portfolio
7 mins
October 2025

Outlook Money
Strategic Vs Tactical Allocation
Fixed-income investments can be bucketed based on your time horizon. However, you can also tweak the allocation, tactically, in accordance with the market conditions
4 mins
October 2025

Outlook Money
Discipline Is Key, Shows This Retiree's Life
Pramod Agrawal, 64, a former banker, is an inspiration for active retirees who do not know what to do with their idle time post retirement. Pramod, who lives with his spouse in Ghaziabad, had the option of staying at home, like most retirees, but chose to use his expertise in new ways. Now, he is a visiting faculty at several institutes.
4 mins
October 2025

Outlook Money
Will The E20 Fuel Rollout Make The GST Benefit Ride Bumpy?
The GST rate cut will benefit most car and two-wheeler buyers, but the E20 fuel rule may upset your budget. Calculate well and plan ahead for a smooth ride
6 mins
October 2025

Outlook Money
Input Tax Credit In Insurance
Health insurance premiums in India have become more affordable after the government removed the 18 per cent goods and services tax (GST) on them.
2 mins
October 2025
Outlook Money
Regulatory Roundup
A few regulatory changes in September 2025, and how they will impact you
4 mins
October 2025
Outlook Money
Frugality: A Smart Money Move
We often equate frugality with penny-pinching behaviour. But it isn't. It is about being smart with money, and spending it on things that give value and satisfaction
5 mins
October 2025
Outlook Money
Here's How To Make Health Insurance Claims
For many people, health insurance is the safety net that prevents a medical emergency from turning into a financial burden. Yet, policyholders often find themselves confused while filing claims.
1 mins
October 2025

Outlook Money
Why Seniors Need To Know Their Legal Rights
Many senior citizens often end up in destitution after being abandoned by their kith and kin, typically after transferring their property. Can taking recourse to laws meant for seniors lend a helping hand?
5 mins
October 2025
Outlook Money
Advantage Of Low Cost, High Returns
If you want to stay away from the constant game of chasing outperformance or worrying about underperformance, exchange-traded funds (ETFs) can be a smart option. They provide broad market exposure, are cost-efficient, and eliminate the need to time the market. An index ETF allows you to invest in sectors and stocks of the underlying benchmark in the same proportion as the benchmark. If you want to invest in Nifty 50 companies, Nippon India Nifty 50 BeES could be a decent choice.
1 mins
October 2025
Listen
Translate
Change font size