Circular no. 8/2012 [f.no. 275/192/2012-it(b)], dated 5-10-2
This query is : Resolved
12 October 2012
My query is this in. Circular no. 8/2012 [F.NO. 275/192/2012-IT(B)], DATED 5-10-2012
There are some solved illustration given, in example no. 5 they have given deduction for 20000/- in 80 CCF in assessment year 2013-14
But 80CCF is withdrawn & it is clearly mentioned in the same article as given below
5.5.4 Deduction in respect of subscription to Long Term Infrastructure Bonds:
Section 80CCF has been withdrawn from FY 2012-13. Hence no deduction is allowable under this section for the current FY onwards.
So why they allowed deduction of 80CCF in that particular example no. 5
Experts Pls clarify me, may be I am wrong
Thanks
There are some solved illustration given, in example no. 5 they have given deduction for 20000/- in 80 CCF in assessment year 2013-14
But 80CCF is withdrawn & it is clearly mentioned in the same article as given below
5.5.4 Deduction in respect of subscription to Long Term Infrastructure Bonds:
Section 80CCF has been withdrawn from FY 2012-13. Hence no deduction is allowable under this section for the current FY onwards.
So why they allowed deduction of 80CCF in that particular example no. 5
Experts Pls clarify me, may be I am wrong
Thanks
12 October 2012
Dear Uday
I think by mistake Team of drafting committee includes Section 80CCF in example. You are correct that deduction u/s 80CCF is not available for A.Y. 2013-14 onwards.
I think by mistake Team of drafting committee includes Section 80CCF in example. You are correct that deduction u/s 80CCF is not available for A.Y. 2013-14 onwards.
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