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)
Quick Summary
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 Topics :
- “Income Tax Implications of Company-Related
- Advice needed: Hypothetical case of non-filing of
- Demand Raised for Cess Amount Despite Section 89 R
- WRONG BILL NO FILED IN GST R1
- Addtional trade name for my another firm
- Commission / Agency Business without books: REAL E
- Difference between AIS and 26AS data.
- Applicability of FCRA to Article Processing Fees (
- GST Return
- Practical queries on buy back of shares
Related Topics :
CAclubindia
