Hi, Could anybody please tell me whether there is a further deduction of Rs. 1 lakh in addition to the existing limit under Section 80C. This question is based on the answer as provided in The Hindu today(Business column) under the head'Deduction for annuity policies is additionally available'. Please clarify
Menu
80ccc deduction
Replies (4)
Dear Manju,
Yes 80 CCC provides for deduction of annuity policies but then aggregate of deduction u/s 80c, 80ccc & 80ccd cannot exceed Rs. 1,00,000/-
Hi manju,
80 CCC, on its individual basis provide u additional DEDUCTION FOR ANNUITY POLICIES (i.e apart from 80 - c which already provides for deductions LIC and allied policies)......
But, the aggregate deduction u/s 80C, 80CCC and 80CCD is Rs. 1,00,000....
Dear Manju...
80 CCC provides for deduction of annuity policies but 80CCE restricts deduction u/s 80c, 80ccc & 80ccd to Rs. 1,00,000/- only...
Agree with Mr.Amir....
Thank you , but i had this doubt because of the article
Recent Topic
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
- NRI Query: Capital Gains Tax Exemption under Secti
- Royalty payment to UK
- Calculate ITR2 tax with equity and non equity prof
- LTCG on residential property sale - Rebate?
- TDS MISMATCH AND AIS
- Return filing for intervening period upto date of
- EPF Withdrawal taxation
- While e filing otp not generating
Related Topics
CAclubindia
