Under section 80c
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 March 2010
As per new budget for the f.year 2010-11 under section 80C exemption told that 120000/-, is there any limit for insurance and other savings individually or else we can show total lic premium of 120000/- under this exemption.
09 March 2010
YOU CAN GET 80C DEDUCTION BY PAYING LIC PREMIUM OF RS.100000/- (SUBJECT TO 20% OF SUM ASSURED). RS20000/- IS FOR INVESTMENT IN INFRASTRUCTURE BOND.
Message likes :
1 times
CA RATAN JHA
(Expert)
09 March 2010
still limit of sec. 80c is 100000.
new sec. inserter i.e. sec. 80ccf to avail benefit in investing infrastructure bonds.
infrastructure bonds are still not notified.
new sec. inserter i.e. sec. 80ccf to avail benefit in investing infrastructure bonds.
infrastructure bonds are still not notified.
CA Prashant Gupta
(Expert)
09 March 2010
80C limit is still 100000/-. if you want only lic then for 100000/- premium sum assured should be minimum 500000/-
20000/- deduction is u/s 80CCF which is available only for purchasing infrastructure bonds. separate list for these bonds will be issued but till date no list.
20000/- deduction is u/s 80CCF which is available only for purchasing infrastructure bonds. separate list for these bonds will be issued but till date no list.
CMA Ramesh Krishnan
(Expert)
09 March 2010
Still Rs.100000/ only Rs.20000/- towards Infrastructure bonds
10 March 2010
The proposed section 80CCF provides for a deduction to an individual/HUF upto a limit of investment of Rs.20,000/-,over and above the existing limit of Rs.1,00,000/- under section 80CCE. The said investment has to be made in long term infrastructure bonds to be notified by the Central Government.
Message likes :
1 times
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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GST input credit on commercial property
- TDS on Dashcam rent and allied services
- Import Order Cancelled.
- Working on Gold wastage during Melting of old gold jewellery
- GSTR-9C filing
- GST ITC as per notification 12/2023- central tax
- Urd purchase entry in tally prime
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Intimation under section 245
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- 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
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
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
