80CCF

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Nitin Nakrani (Querist)
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04 June 2011 Suppose My total deduction U/s 80C is Rs. 85000 and I invest Rs. 25000 in registered Infrastructure bond. what should be total deduction u/s 80C and 80CCF

Vivek Mehta (CA, DISA,CS, MBA)

Vivek Mehta (CA, DISA,CS, MBA) (Expert)
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04 June 2011 The total Deduction that you can claim is of Rs. 110000.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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04 June 2011 Under the Limit of Rs 1.00 Lac Section 80C, 80CCC and 80CCD are considered.
So 85000/ -will be fully allowed U/s 80C.

Further the amount of extra contribution of Rs 5000 can not be shown under these sections. Hence U/s 80CCF 20000/ only will be allowed as deduction.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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04 June 2011 Agree with Paras Sir.

You are eligible for a deduction of Rs 105000/-

85000/- u/s 80C
And
20000/- U/s 80CCF (Max Limit is Rs 20000/-)

CA Sumat Singhal

CA Sumat Singhal (Expert)
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05 June 2011 Agree with above experts opinion..

Nitin Nakrani

Nitin Nakrani (Querist)
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06 June 2011 why I am not aligible for excess Rs. 5000 of Infra bond u/s 80C? as section said infra bond deduction is available over and above Rs. 100000 of 80C. I suppose Total deduction available to me is should be 110000. is my openion is correct?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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06 June 2011 Will you please mention the name of the so called registered infra-structure bonds ?
*
U/s 80C(xxii) -Only Notified Bonds are of NABARD.
*
In case you have invested in these then you are eligible to get Deduction U/s 80C and as such your deduction is limited to Section 80C only.
*
80CCF bonds are not covered under section 80C.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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06 June 2011 No your opinion is not correct.

Deduction u/s 80CCF is available over and above Rs. 100000 of 80C, 80CCC and 80CCD.

Maximum deduction available u/s 80CCF is Rs 20000/-.

So even if you dont invest a rupee u/s 80C. and invest in Infra Bond U/s 80CCF of say Rs 1 Lac, still allowable deduction will be only Rs 20000/-.
Hope its clear.

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