EXEMPTION LIMIT
This query is : Resolved
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
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
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.
So there is no question of exemption of Rs.200000 in one name.
CA. Rayan Sequeira
(Expert)
06 November 2007
UNDER SEC 80C A MAX OF 1L CAN BE CLAIMED AS EXEMPTION
S.RAVICHANDRAN
(Expert)
06 November 2007
Rs.100000/- is the maximum exemption limit. Moreover Kissan Vikas Pathra is not eligible for 80-C deduction.
CA. O.P. Agarwalla
(Expert)
19 November 2007
INVESTMENT IN K.V.P. DOES NOT GIVE U ANY RELIEF UI/S. 80C.
Amit Sharma
(Expert)
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.
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.
Sanjeev Kumar Sharma
(Expert)
08 April 2008
Yes I agree with mr. S. Ravichandran
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