Naresh a resident individual gives you the following information of his investments: (i) Life insurance premium of his parent paid ₹40,000; (ii) Tax Saver Deposit in his own name ₹30,000; (iii) Deposit in Public Providen

Naresh a resident individual gives you the following information of his investments: (i) Life insurance premium of his parent paid ₹40,000; (ii) Tax Saver Deposit in his own name ₹30,000; (iii) Deposit in Public Provident Fund in own name ₹20,000; (iv) 5 year time deposit in post office ₹22,000; (v) Tuition fees for his son studying Armenia ₹1,10,000. How much is the amount eligible for deduction under section 80C of the Income Tax Act, 1961?