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PPF Deduction u/s 80C

This query is : Resolved 
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(Querist)
18 April 2009 Sir,
Our client has invested Rs.50000 in PPF a/c in his own name and Rs.50000 in his wife's PPF a/c.
Now, I would like to know whether he ll get deduction u/s 80C for Rs.50000, 70000 or Rs. 100000 in respect of this transaction.
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CA. Krishna K Neeraj

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CA. Krishna K Neeraj (Expert)
18 April 2009 An individual can get maximum deduction of rs. 100000/- U/s 80C by depositing PPF amount in the name of himself, his spouse or childern. Rs.70000/- cap is under THE PUBLIC PROVIDENT FUND SCHEME and not under the income tax act.
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
18 April 2009 answered
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
21 April 2009 answered
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