Will the amount declared under Voluntary Provident Fund (VPF) be considered under 80C automatically?

Yes, the amount declared under VPF is automatically considered under section 80C of the income tax.

Section 80C provides deductions on various investments up to ₹ 1.5 lakh per year from your taxable income.

Income tax is a form of tax imposed by the government on an individual's earnings or income. It is typically based on the individual's total income, which includes salaries, wages, profits from business or investments, rental income, and other sources.

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