Investment u/s 80(c) in combination of elss, ppf, fd
This query is : Resolved
23 March 2019
SIR/MADAM,
An individual wants to invest Rs. 1,50,000 u/s 80 (C), for availing tax exemption.
But, he does not want to invest the whole amount in one place.
So, Can he invest as follows ?
- RS. 50,000 in any one ELSS scheme of any mutual fund,
- Rs. 50,000 in any other ELSS scheme of any other Mutual Fund,
- And Rs. 50,000 in PPF account in any bank ?
OR,
Can he distribute Rs. 1,50,000 in three parts like –
- Rs.50,000 in ELSS , Rs. 50,000 in PPF and Rs. 50,000 in 5 Years’ bank F.D,
for availing sec. 80(C) exemption ?
I mean,
is there any restriction or not, that one can invest whole amt. in any one type of tax-saving instrument from above ?
An individual wants to invest Rs. 1,50,000 u/s 80 (C), for availing tax exemption.
But, he does not want to invest the whole amount in one place.
So, Can he invest as follows ?
- RS. 50,000 in any one ELSS scheme of any mutual fund,
- Rs. 50,000 in any other ELSS scheme of any other Mutual Fund,
- And Rs. 50,000 in PPF account in any bank ?
OR,
Can he distribute Rs. 1,50,000 in three parts like –
- Rs.50,000 in ELSS , Rs. 50,000 in PPF and Rs. 50,000 in 5 Years’ bank F.D,
for availing sec. 80(C) exemption ?
I mean,
is there any restriction or not, that one can invest whole amt. in any one type of tax-saving instrument from above ?
23 March 2019
No, there are no restrictions whatsoever in investing lumpsum or distributed investments
24 March 2019
No restrictions, maximum you can claim Rs.150000/- under 80c
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- Sales return eway bill
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- Free lancer income
- Last year TDS Claim
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
