dear experts,
Is 80CCF deduction available for the finanacial year 2012-13, if yes is it 20,000 or 40,000?
kindly answer this quirey,
thanks in advance
7 Replies
Arpit Bhandari
(ACA,CMA,CS & B.com )
(102 Points)
Replied 02 April 2012
No,
deduction u/s 80ccf is not available from this f.y. (2012-13)
Karthikeya2020
(Student)
(2030 Points)
Replied 02 April 2012
| Originally posted by : Arpit Bhandari | ||
 |
No, deduction u/s 80ccf is not available from this f.y. (2012-13) |
 |
I agree with " Arpit "
Srikanth
(Tax Associate)
(297 Points)
Replied 02 April 2012
As per the latest budget & Finance Act 2012, the benefit from investment in Long term infra bonds u/s. 80CCF is no longer available from F.Y. 2012-13..... However a new scheme of investment called ' Rajiv Gandhi Equity Saving Scheme ' has been introduced & replaced the infra bonds....... An individual has to invest in the aforesaid scheme of Rs. 50000 for availing deduction for fixed amount of Rs. 25000 for the financial year in which the investment has made..... so, the maximum deduction that can be availed u/s. 80c is Rs. 100000 + 25000 = 125000.......
SAHIL BANSAL
(Student)
(170 Points)
Replied 03 April 2012
I guess Rajiv Gandhi Equity Saving Scheme is applicable to new investers only(who donot have DEMAT A/c)
Mihir Doshi
(B.Com, CA, CS, LLB)
(2187 Points)
Replied 03 April 2012
As Hon. FM kept mum in his budget speech about 80CCF, which explicitly denoted that now section is scrapped. He introduced RG Equity Saving Scheme and take away 80CCF benefits. Earlier, we were getting exemption of INR 20,000/- by investing 20,000/- i.e. 100% benefit while with new RG equity scheme we only get 50% benefits on investment of 50,000/-.
Thanks
Mihir Doshi
Chandrasekaran
(Senior Accountan)
(27 Points)
Replied 03 August 2012
Is this 25000/- exemption will comes under 80C (Rajiv Gandhi Equity Saving Scheme)? Please clarify
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