Dear Sir,
I have deposit 50000/- to PPF account and 99900 /- in Life insurance. Can I claim Under 80C deduction.
please suggest
Dear Naveen Kumar,
You can claim for a deduction under section 80C. fir Rs. 150000.
In case where your contributions will cross the threshold limit of Rs. 150000. you can disclose the full amount of contributions. However, in such a case your eligible deduction will be automatically limited to Rs. 150000 only.
That's mean you can claim 80C for full amount of Rs 149900 easily as it is lying under Rs. 150000.
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