It permits a maximum annual deduction of a total of Rs 1.5 lakh from the taxpayer`s gross income. Both individuals and HUFs are eligible to take advantage of this discount. LLPs, corporations, and partnership firms are not eligible for this deduction. , Subsections 80CCC, 80CCD (1), 80CCD (1b), and 80CCD (2) are all included in Section 80C. This subsection includes payments made towards life insurance premiums, mutual plans, government-sponsored plans such as the national pension system and others.