Under the Income Tax Act, the deduction under Section 80C has a maximum limit of ₹1,50,000. Which of the following is NOT eligible for deduction under Section 80C?
A. Public Provident Fund (PPF)
B. Equity Linked Savings Scheme (ELSS) Mutual Funds
C. National Pension System (NPS) Tier-I
D. Life Insurance Premium
Answer: Option C
Solution (By JKSSB Mock Tests)
Contributions to NPS Tier-I are eligible for deduction under Section 80CCD(1) (within the 80C limit) and an additional ₹50,000 under 80CCD(1B). However, the question asks what is not eligible *under 80C specifically*. Actually, NPS Tier 1 is under 80CCD. Let me rephrase to be precise.
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