Deductions under chapter VIA of Income Tax Act

Page no : 3

Anchal Gupta (Student CA Final ) (295 Points)
Replied 22 December 2012

Originally posted by : Karan Teli
	Good compliation..!! "B O O K M A R K E D"

Very informative post..... :)

Monika (CA Final) (39 Points)
Replied 23 December 2012

Very nice and useful post....Bookmarked.

@VaibhavJ (Believe!! Live your dreams!) (33511 Points)
Replied 23 December 2012

Originally posted by : Jiral Savla
	Your contribution about deduction under chapter VI-A is very helpful & have many new updates I have one query about Section 80CCG: Rajiv Gandhi Equity Saving Scheme What do you mean by "(maximum amount eligible for income tax rebate is Rs. 50,000), you can claim a tax deduction of Rs. 25,000 (50% of Rs. 50,000)." Can u answer the following? income (Rs.) Tax (Rs.) amt invested amount of deduction 8,00,000 90,000 75,000 ? 9,50,000 1,20,000 1,00,000 ? Section 80CCG: Rajiv Gandhi Equity Saving Scheme As per the Budget 2012 anouncements, a new scheme Rajiv Gandhi Equity Saving Scheme (RGESS) will be launched. Those investors whose annual income is less than Rs. 10 lakh can invest in this scheme up to Rs. 50,000 and get a deduction of 50% of the investment. So if you invest Rs. 50,000 (maximum amount eligible for income tax rebate is Rs. 50,000), you can claim a tax deduction of Rs. 25,000 (50% of Rs. 50,000).

you are ryt..

@VaibhavJ (Believe!! Live your dreams!) (33511 Points)
Replied 23 December 2012

Originally posted by : Monika
	Very nice and useful post....Bookmarked.

thanks.

Ankur Agrawal (TRAINEE) (184 Points)
Replied 25 December 2012

keep contribute your knowledge.

once again thank you my friend

Ankur Agrawal

1 Like

yogesh mahajan (excise officer) (129 Points)
Replied 28 December 2012

Thanks for share valuable & good infomation

1 Like

Chintan (C.A) (133 Points)
Replied 31 December 2012

Thanks.

prakrut (accountant) (120 Points)
Replied 02 January 2013

is additional deduction of Rs. 20k under infrastructrure bond is valid ?

@VaibhavJ (Believe!! Live your dreams!) (33511 Points)
Replied 02 January 2013

Originally posted by : prakrut
	is additional deduction of Rs. 20k under infrastructrure bond is valid ?

Investment in Infrastructure Bond U/S 80CCF is not been extended this FY.

Thanks!!

Ashima jain ("ALWAYS LEARNING") (140 Points)
Replied 06 January 2013

Very Nice!!!!!!

Please Keep sharing!!!!!!

bhavishya (Service) (50 Points)
Replied 08 June 2013

NICE ARTICLE.... THANK U SO MUCH ...

CA. N Kondaiah (Sr Audit Assisstant) (83 Points)
Replied 09 June 2013

very much useful for students for easy understanding and making correlation with other section u/d Chapter VIA

Annu (Chase your Dreams) (825 Points)
Replied 25 October 2013

Gud work...Bookmarked!!

ajay chary (Audit Assistant) (21 Points)
Replied 27 February 2014

Very much useful.....

vivekanand (partner) (48 Points)
Replied 04 June 2014

Thank you very much for this informative post sir! This means that deductions under chapter VIA of income Tax can exceed Rs. One Lakh; I am asking this question asI was under the erroneous impression that there is a ceiling of Rs one lakh for deductions under this chapter? A word of clarification in this respect from you will be greatly appreciated.