What is the primary purpose of Section 80C of the Income Tax Act of 1961?

"To encourage savings and investments by offering tax deductions" "To provide tax relief for medical expenses" "To incentivize charitable donations" "To reduce the tax burden on high-income earners"

Which of the following investment options is NOT mentioned as eligible for tax deductions under Section 80C?

"Public Provident Fund (PPF)" "National Savings Certificate (NSC)" "Fixed Deposits for a tenure of 3 years" "Equity Linked Savings Scheme (ELSS)"

What is the lock-in period for investments made in Equity Linked Savings Scheme (ELSS)?

"1 year" "3 years" "5 years" "10 years"

Which tax-saving scheme is specifically designed for the benefit of girl children?

"Sukanya Samriddhi Yojana (SSY)" "Senior Citizen Saving Scheme (SCSS)" "National Pension System (NPS)" "Public Provident Fund (PPF)"

What is the maximum amount of deduction allowed under Section 80C for the financial year?

"Rs. 50,000" "Rs. 1,00,000" "Rs. 1,50,000" "Rs. 2,00,000"

Which of the following is a tax-saving option available apart from Section 80C?

"Deduction for interest paid on education loan" "Deduction for rent paid for accommodation" "Deduction for travel expenses" "Deduction for purchase of electronic gadgets"

What is the maximum deduction allowed for medical insurance premiums under Section 80D?

"Rs. 10,000" "Rs. 15,000" "Rs. 25,000" "Rs. 50,000"

Under which section can a deduction be claimed for contributions made to the National Pension System (NPS)?

"Section 80C" "Section 80CCD" "Section 80D" "Section 80EE"