_________ is one of the benefits of small savings schemes under section 80C of the Income Tax Act ?

(a) Higher interest rates as compared to other fixed income opportunities.

(b) Easy access to funds without penalty.

(c) To reduce the tax liability by way of deductions.

(d) Guaranteed return on investment.

Ans.(c)

Sol. Small savings schemes offer tax benefits under Section 80C, allowing investors to lower their taxable income by the amount invested in these schemes.