80c deduction

1028 views 18 replies

@ Sha : U don't need to worry even if ur employer didn't consider ur investments or didn't grant HRA exemption u/s10(13A). While filing ur ITR u can claim it & there is no need of attaching proof of claiming deductions & TDS certificate, etc. Just keep the documents with u. As far as ITR is concerned u have to fill ITR-1 if u have salary income, one house property (excluding loss brought forward from P.Y.) & income from other sources (excluding winnings from lottery & income from race horses & any loss u/h-income from other sources), besides u have to satisfy the following conditions :

(1) exempt income not excedding Rs.5000/-

(2) not claiming double taxation relief u/s-90,90A &91

(3) is not a resident & ordinarily resident in India having assets (including financial interest in any entity) located outside India

(4) shouldn’t have any signing authority in any account located outside India.

 

Hope ur doubt is cleared now.

Replies (18)

@ Sha : U don't need to worry even if ur employer didn't consider ur investments or didn't grant HRA exemption u/s10(13A). While filing ur ITR u can claim it & there is no need of attaching proof of claiming deductions & TDS certificate, etc. Just keep the documents with u. As far as ITR is concerned u have to fill ITR-1 if u have salary income, one house property (excluding loss brought forward from P.Y.) & income from other sources (excluding winnings from lottery & income from race horses & any loss u/h-income from other sources), besides u have to satisfy the following conditions :

(1) exempt income not excedding Rs.5000/-

(2) not claiming double taxation relief u/s-90,90A &91

(3) is not a resident & ordinarily resident in India having assets (including financial interest in any entity) located outside India

(4) shouldn’t have any signing authority in any account located outside India.

 

Hope ur doubt is cleared now.

Firstreplyiscorrect
If u not withdrawn before 5 year then allowed 80c deduction as below Invested amount Or Max. 1,00,000 (80C) is allowed but asper next A.Y. limit is incresed to 1,50,000
Dear pooja Allowed only in first year not for all the year ....if u withdraw during the block of year ( 5 year) then u pay tax on such amount ...


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