Deduction 80 C income tax

Sir,

i have deposited Rs.100000 In PPF account and paid LIC premium Rs.99400 Can i eligible to claim deduction under 80C for Rs.150000/-
Replies (6)
Quick Summary
This discussion clarifies eligibility for claiming deductions under Section 80C of the Income Tax Act. It confirms that depositing ₹100,000 in a PPF account and paying ₹99,400 in LIC premiums allows for a deduction of up to ₹150,000, provided the old tax regime has been chosen and other conditions are met. The conversation also briefly touches upon the definition of 'purchase consideration' in relation to capital assets.

Yes you can claim it.
New tax regime or old tax regime ???
Yes.You can claim under 80C if you have choosen old tax regime subject other conditions
What is mean by purchase consideration and shares consideration give some examples
@ MPR Sanjay Kumar

The amount paid for purchase of property or other assets ( Capital Asset) is called cost of acquisition.

And amount received on sale of capital asset is called sale consideration
So purchase consideration means cost of Acquisition??

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
12 October 2026
Chartered Accountant - Internal Audit

HKC | Chartered Accountants & Business Advisors

Ludhiana

CA

View Details
Company
19 September 2026
CA/Semi-CA/BCom

Pravin Sarvaiya

Mumbai

CA Inter

View Details
Company
12 October 2026
AUDIT , ACCOUNTS AND TAXATION

KDSS

New Delhi

B.Com

View Details
Company
ARTICLESHIP 16 September 2026
CA Article Trainee

SR BAGAI & Co.

New Delhi

CA Inter

View Details
Company
19 September 2026
Finance Manager

Mugdha Art Studio

Hyderabad

CA

View Details
Company
ARTICLESHIP 18 September 2026
Industrial Trainee

Twenty Point Nine Five Ventures Private Limited

Noida

CA Inter

View Details
Company
ARTICLESHIP 28 September 2026
Junior Accountant

J S P M & Associates LLP

Pune

B.Com

View Details
Company
26 September 2026
Chartered Accountant

pushpganga ventures

Pune

CA

View Details