Related to exemption u/s 80c
This query is : Resolved
28 February 2012
Dear Sir,
I have Demat account in SBI and I have purchased some equity 7 month back which is amount of Rs 45000/-.
Can I take the benefit of this U/s 80C or any other section of Income tax as I am salaried person otherwise I will have TDS Liabilities.
Kindly suggest me the same.I would be thankful to you.
I have Demat account in SBI and I have purchased some equity 7 month back which is amount of Rs 45000/-.
Can I take the benefit of this U/s 80C or any other section of Income tax as I am salaried person otherwise I will have TDS Liabilities.
Kindly suggest me the same.I would be thankful to you.
Krishna Mohan
(Expert)
28 February 2012
Equity shares purchased cannot be claimed as deduction U/s 80C. Only investment in mutual funds which are tax savers and where lock-in-period is 3 years are eligible for 80C.
28 February 2012
Subscription to equity shares are eligible for deduction provided it should be an 'eligible issue of capital' as defined in section 80C(2)(xvii) of the Income tax Act,1961.
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
- Tax on Amount transferred in HUF Account
- Nursery business
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- TDS on Dashcam rent and allied services
- Working on Gold wastage during Melting of old gold jewellery
- Intimation under section 245
- Section 269ST applicability for capital introduced by partner to his partnership firm
- GST input credit on commercial property
- ETDS return q4 25-26
- GSTR-9C filing
- Royalty payments to the Mining Department for procurement of murum - GST input
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
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
