Query regarding vpf
This query is : Resolved
Rajesh2345
(Querist)
06 April 2013
Dear Experts,
I have query regarding VPF .
Is deduction of VPF is over and above section 80C ?
for example if salary income is 10 lakhs and PF is 1 lakh and VPF contribution is also 1 lakh then taxable income will be 9 lakhs or 8 lakhs ?
Thanks
I have query regarding VPF .
Is deduction of VPF is over and above section 80C ?
for example if salary income is 10 lakhs and PF is 1 lakh and VPF contribution is also 1 lakh then taxable income will be 9 lakhs or 8 lakhs ?
Thanks
06 April 2013
Total Deduction u/s 80C can't exceed Rs. 1 lakh in any case.
Taxable income will be 9 lakh only.
Taxable income will be 9 lakh only.
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