Section-123 : Deduction for life insurance premia, deferred annuity, contributions to provident fund, etc

1. Section-123 as per act

An individual or a Hindu undivided family, shall be allowed a deduction of the whole of the amount paid or deposited in the tax year, being the aggregate of the sums enumerated in Schedule XV, but not exceeding one lakh fifty thousand rupees, while computing the total income for that year, subject to the conditions specified in that Schedule.

2. Help and useful links for Section-123

1. Income Tax Help Center
2. Income Tax Act 2025 Home
3. Best Income Tax Saving Investment Options in India
4. Income Tax Savings, Investments, 80C FAQs
5. Income Tax Help Center