Is the Deduction limit of 1.5lakh under section 80C as presented in union bubdet 2014-15 will be applicable from 1st april 2015??
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Applicable from FY 2014-15 i.e., AY 2015-16.
applicable for the income earned from 1st april 2014 to 31st march 2015. for that returns to be filed in assessment year 2015-16
sir but as mentioned in finance act 2014 presented in union budget 2014 it is mentioned that deduction of 1.5lakh will applicable from 1 april 2015
Budget was presented for FY 2014-15 so u can understand yaar....this is not a good question to ask....and for d FY 2015-16 buget ll hv to be presented in d upcoming February.
| Originally posted by : Minesh Rawat | ||
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Budget was presented for FY 2014-15 so u can understand yaar....this is not a good question to ask....and for d FY 2015-16 buget ll hv to be presented in d upcoming February. |  |
I too understanding this .But as I read the bare Act of Finance Bill 2014 .It is mentioned clearly that the revision of deduction limit under section 80C is aplicable from 1st day of April 2015 .
Please go through it
Yes, the said provision will applicable from 1st day of April 2015.
Section 80C, 1,50,000 deduction can avail only on the AY 2015-16, ie, earn the income from 1st april 2014 to 31st march 2015. 
1 april 15 always means from Ay 15 _ 16
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