Menu
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
Recent Threads
- TDS u/s 94T - applicablity on profit share.
- ITC for 5% Restaurant business
- Auto Sweep Facility In Fixed Deposit
- Live Updates and discussion on Union Budget 2026-2
- Taxation on Bonds
- How to learn about a deceased family member's inve
- Query about cash withdrawals and tax/ITR filing im
- TDS on partners remuneration u/s 194 T
- Income Tax Financial Year 2025-26
- GST Rate RCM
Related Threads
CAclubindia
