Is exemption of rs 1.50 lac for fy 14-15 or fy 15-16
This query is : Resolved
30 April 2015
I want to know the exemption limit comes under 80C of Rs 1.50 is for FY 14-15 or FY 15-16 ??? and tell me in short what deductions are included under sec 80C like, GIS, GPF, PPF, Tution Fee upto 2 children, Is repayment of loan for construction of house property is eligible u/s 80C or 80CCC, 80CD. Further In which section "Loan taken for higher eduction come ??
30 April 2015
It is for 14-15
80c contains to many deduction....
Just search in google deduction under section 80
80c contains to many deduction....
Just search in google deduction under section 80
30 April 2015
https://taxguru.in/income-tax/deductions-chapter-applicable-assessees-income-salaries.html
04 May 2015
It means 1.50 can be claimed under 80C for FY 15-16 not for FY 14-15.
confirm it......???????
confirm it......???????
05 May 2015
Deduction of 1.5 lac is available w.e.f. FY 2014-15 i.e. AY 2015-16 onwards. Repayment of housing loan i.e. principal is available u/s 80C. If loan is taken for higher education interest paid is allowed as deduction without any limit u/s 80E. You may go through section 80E for further details.
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05 May 2015
sorry neha.... it was not regular replied from me because i was using it first time from cell...
the said exemption is allowed from f.y. 2014-15
the said exemption is allowed from f.y. 2014-15
06 May 2015
Doesn't matter, ankit ji. I already got the answer.
06 May 2015
Doesn't matter ankit, I already got answer.
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