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.
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.
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
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
04 January 2012
You can Claim additional deduction of Rs 20,000 only u/s 80CCF for investment in bonds.
05 January 2012
Total you can claim 90K below is the breakup amount
70K as Insurance premium
20K for Infra Bond
70K as Insurance premium
20K for Infra Bond
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR 2 Short Term gain & Long term gain
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- Itr 1 processing
- Showing Gift from relative in ITR for this year
- ITR selection for salaries and capital gain less than L
- ITR returnFY25-26
- Short Term Capital gain on shares bought and sold after 2018 onwards
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Article ship defecit
- Bank Accounts in Balance Sheet for ITR 3
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
