Hi,
I have extensively googled but still not able to find an answer.
Please let me know whether the deduction of 25K u/s 80CCG is above the deductions under section 80C.
i.e 25,000(8oCCG) + 100,000(80C) = 1.25L
2nd - what is the definition of new investor. let say I have been investing in MF's, am i eligible.
Thanks
Kamlesh
Hi,
first, the deduction under section 80ccg is not included in the limit of 1 lakh. because as per section 80CCE The aggregate amount of deductions under section 80C, section 80CCC and 37[sub-section (1) of section 80CCD] shall not, in any case, exceed one lakh rupees.]
The term new retail investor means that you have to make new investment in the Scheme as notified by Central Government for the purpose of This section.
So it means that apart from 1L in 80C, I can also invest 50,000 in RGESS u/s 80CCG and get an additional deduction of 25,000. thereby a total of 1.25 L combining both 80C and 80CCG..
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