Exemption u/s80c
This query is : Resolved
CA Anil Jain
(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
Plz tell me something more in this Regards.
Wishing u a very happy Diwali in Advance.
Thanks & Regards,
Anil Jain
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/-
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 .
S.RAVICHANDRAN
(Expert)
06 November 2007
The said exemption has been withdrawn from the assessment year 1992-93.
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