Deduction u/s 80-C
This query is : Resolved
ajay sabharwal
(Querist)
27 April 2010
Is investement in shares allowed as deduction????
CMA Ramesh Krishnan
(Expert)
27 April 2010
Amount invested in approved Equity shares of public company engaged in infrastructure including power is eligible for deduction u/s.80C
Taranjit Singh
(Expert)
27 April 2010
https://www.raagvamdatt.com/Saving-Income-Tax-Understanding-Section-80C-Deductions/123/
All detail on that link
All detail on that link
CA Ravi Sisodia
(Expert)
27 April 2010
investement in shares not allowed as deduction u/s 80C.
27 April 2010
eligible bonds are covered but not equity shares of a company.....
CMA Ramesh Krishnan
(Expert)
27 April 2010
Please go to this link and refer Sec.80C and clause (xix) for Equity shares on approved public company investment deduction
It is Income tax India website link only
https://law.incometaxindia.gov.in/DIT/Income-tax-acts.aspx
It is Income tax India website link only
https://law.incometaxindia.gov.in/DIT/Income-tax-acts.aspx
27 April 2010
AGREE WITH RAMESH JI. IT IS MENTIONED THERE BUT RAMESH JI CAN YOU PLEASE TELL NAME OF ANY SUCH SHARE. OR IS IT ONLY IN IT ACT AND NO SUCH SAHRES HAS BEEN ISSUED.
CMA Ramesh Krishnan
(Expert)
02 May 2010
Dear Sanjay. we cannot name like that because for that deduction the shares issue public company (which is engaging the infrastructure business claim deduction u/s 80IA)has to get apporval from the CBDT
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