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sec 80 c

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(Querist)
17 February 2008 is employees contribution eligible for deduction u/s 80c?
plase reply imm.
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R.V.RAO

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R.V.RAO (Expert)
17 February 2008 YES,EMPLOYEES CONTRIBUTION( NOT BEING REPAYMENT OF LOAN) TOWARDS STATUTORY AND RECOGNIGED PROVIDENT FUND IS ELIGIBLE FOR 80 C DEDUCTION.
YOU MAY EVEN CONTRIBUTE VOLUNTARILY ALSO MORE AMOUNT THAN STATUTORY MINIMUM.
MAXIMIUM CAP UNDER 80 C IS RS. ONE LAKH.
R.V.RAO
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