19 July 2018
PPF RS. 1,20,000 + LIC PREMIUM RS 37,796 = TOTAL RS 1,57,796 OUT OF THIS RS 1,50,000 IS ALLOWED BUT WHILE CLAIMING RS 1,57,796 IN ITR-2 THE ALLOWED DEDUCTION IS JUST RS 1,26,501 INSTEAD OF RS 1,50,000. PLEASE SOLVE MY QUERY. AND OBLIGE.
19 July 2018
Sources of income are as follows: Salary + SB Intt + FD Intt + LIC Commission as which all we are claiming u/s 80-C : PPF RS 1,20,000 + LIC PREMIUM RS 37,796 TOTAL RS 1,57, 796 out of which Rs 1,50,000 should be allowed but is getting allowed 1,26,504 What is the reason behind that ? Please guide me and oblige.
CAclubindia
