Chapter vi deduction

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 January 2012 My query is as follow:

an investor has invested Rs 70,000 as LIC Premium & Rs 50000 Under Infra Bonds (Section 80CCF). There is no other investment. Can invest claim for Rs 1,20,000 as deduction or only Rs 70,000 shall be available under sec 80-C & Rs 20,000 under Sec 80-CCF.

CA VISHAL RANA,CS,B.Com,AMFI

CA VISHAL RANA,CS,B.Com,AMFI (Expert)
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04 January 2012 1.He can claim Rs. 70000 u/s 80C As per limit 80CCE of Rs. 100000.

2.Further claim 80CCF of rs. 20000.

Total deduction he can claim Rs. 70000+20000 as per sec 80CCE and 80CCF respectively

Message likes : 2 times

Taranjit Singh

Taranjit Singh (Expert)
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04 January 2012 You can Claim additional deduction of Rs 20,000 only u/s 80CCF for investment in bonds.

Dhanesh

Dhanesh (Expert)
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05 January 2012 Total you can claim 90K below is the breakup amount

70K as Insurance premium
20K for Infra Bond

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