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Exemption u/s80c

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(Querist)
06 November 2007 In 80C of the Act the maximum limit of exemption is Rs.1,00,000/but someone told me that this limit is not applicable on the Invetment in the ELSS to the extent of rs.10,000/-whether it is true?
Plz tell me something more in this Regards.


Wishing u a very happy Diwali in Advance.
Thanks & Regards,

Anil Jain
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CA. Kirti S. Ganatra

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CA. Kirti S. Ganatra (Expert)
06 November 2007 No there is nothing like that in equity linked saving scheme you can invest to the threshold of Rs. 1 Lakh. There is no restriction of Rs. 10000/-
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CA Anil Jain

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CA Anil Jain (Querist)
06 November 2007 As you told me there is no restriction of rs.10000/-. but i want to know abt.10000 limit investment in ELSS besides the rs.100000/-in any other mode of 80c .
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KAAPIL

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KAAPIL (Expert)
06 November 2007 Sec. 80 C has threshold limit of Rs. 100000.
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S.RAVICHANDRAN

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S.RAVICHANDRAN (Expert)
06 November 2007 The said exemption has been withdrawn from the assessment year 1992-93.
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