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SEC-80C

This query is : Resolved 
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Guest

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Guest (Querist)
16 January 2010 IS IT TRUE THAT ONLY 70,000/- CONTIBUTION TO PPF IS ALLOW AS DEDUCTION AS DEUCTION U/S 80C


I NOW AS PF ACT MAX. CONTRIBUTION CAN BE DONE OF 70000.
SUPPOSE X MADE CONTRIBUTION OF RS.70000 AND FOR HIS CHILD Y CONTRIBUTES 30000 WHAT WOULD BE THE MAX DEDUCTION?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
16 January 2010 No there is no maximum celing limit under Income tax Act for contributing to PPF.Contribution to PPF Maximun limit is Rs.70000/- only under PPF Scheme
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
16 January 2010 Agree
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