EXEMPTION LIMIT

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TARUN (Querist)
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06 November 2007 HI,
SOMEBODY TOLD ME THAT IF WE INVEST RS100000/-IN KISSAN VIKAS PATRA THEN WE ARE ABLE TO TAKE EXEMPTION FOR THAT FULL AMOUNT WITH RS100000/- OF 80C MEANS I WANT TO ASK THAT CAN WE CLAIM EXEMPTION OF RS200000/-
PLZ SUGGEST ME.

THANKS

KAAPIL

KAAPIL (Expert)
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06 November 2007 Sec. 80 C allows only maximum of Rs.100000.
So there is no question of exemption of Rs.200000 in one name.

CA. Rayan Sequeira

CA. Rayan Sequeira (Expert)
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06 November 2007 UNDER SEC 80C A MAX OF 1L CAN BE CLAIMED AS EXEMPTION

S.RAVICHANDRAN

S.RAVICHANDRAN (Expert)
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06 November 2007 Rs.100000/- is the maximum exemption limit. Moreover Kissan Vikas Pathra is not eligible for 80-C deduction.

KAAPIL

KAAPIL (Expert)
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07 November 2007 I hope this clarifies the matter.

o.velavan

o.velavan (Expert)
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09 November 2007 No

CA. O.P. Agarwalla

CA. O.P. Agarwalla (Expert)
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19 November 2007 INVESTMENT IN K.V.P. DOES NOT GIVE U ANY RELIEF UI/S. 80C.

Amit Sharma

Amit Sharma (Expert)
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15 January 2008 Yes that is true.

Under 80 C a max of 1,00,000 can be exempted.

It may be in one invt or a aggregate of all invt as the case may be.