Under Section 80C of the Indian Income Tax Act, certain investments and payments are eligible for tax deductions up to Rs. 150,000 per year. Eligible instruments include Public Provident Fund (PPF), National Savings Certificate (NSC), Post Office Savings Scheme, life insurance premiums, Senior Citizen Savings Scheme, mutual funds, and Unit Linked Insurance Plans. Deduction under Section 80C is only available to individuals and Hindu Undivided Families. The maximum aggregate deduction allowed under Sections 80C and 80CCD is Rs. 150,000 annually.