Deduction u/s 80c

This query is : Resolved

Nitesh Kumar Sharma (Querist)
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31 December 2012 Dear All,
Whether under 100000/- limit u/s 80c of Income tax act, repayment of PF loan will be covered with Normal PF Deduction.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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31 December 2012 Repayment of PF Loan is not covered under section 80C.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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04 January 2013 Yes I agree with the expert

Nitesh Kumar Sharma

Nitesh Kumar Sharma (Querist)
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04 January 2013 Then whether we can claim this repayment of pf loan as deduction elsewhere, or this is not a deduction at all.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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04 January 2013 This is not deductible as the same is a repayment against capital receipt. At the time of taking the loan the amount was not taxed and that's why when you will repay it,
no deduction benefit is granted.
.

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Deduction u/s 80c

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