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Section 123 — Deduction for life insurance premia, deferred annuity, contributions to provident fund, etc.: its source in the Income-tax Act, 1961
Section 123 (Deduction for life insurance premia, deferred annuity, contributions to provident fund, etc.) of the Income-tax Act, 2025 consolidates Section 80C, Section 80CCC and Section 80CCE of the Income-tax Act, 1961 as per the official CBDT correspondence.
source provisions · income-tax act, 1961
- Section 80C — Deduction in respect of life insurance premia, deferred annuity, contributions to provident fund, subscription to certain equity shares or debentures, etc.
- Section 80CCC — Deduction in respect of contribution to certain pension funds
- Section 80CCE — Limit on deductions under sections 80C, 80CCC and 80CCD
read both texts · §80C (1961) vs §123 (2025)
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Source: the CBDT’s official 1961↔2025 correspondence table (incometaxindia.gov.in), captured 2026-07-21. This is a research aid — verify against the official CBDT utility ↗ before professional reliance.
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