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
Taranjit Singh
(Expert)
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
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