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Deduction under chapter 6A
if an individual have a salary income around ₹740000 and he contribute ₹120000 in mutual fund units ,₹25000 in LIC policy and ₹60000 in NPS then how and upto what amount he can claim deducted?
Replies (3)
All the above investments comes under 80C deduction which has a maximum limit of Rs.150000.so 80C the taxable income is Rs.590000/-
RS 50000 for NPS rest under 80c
But in New tax regime sec115 BAC means no deductions available ..IAM I corrct
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