What is itemizing deductions in Indian income tax?
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Itemizing deductions in Indian income tax context is not applicable as it is in some other countries like the United States. Instead of itemizing deductions, taxpayers in India can claim deductions under specific sections of the Income Tax Act, such as Section 80C (for investments in Provident Fund, PPF, life insurance premiums, etc.), Section 80D (for health insurance premiums), and Section 80G (for donations to specified charitable institutions), among others.