May i know the limit of 80C, its 1 lakh or 1.5 lakh?
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Exemption under section 80c
Replies (9)
For current F.Y it is 1.5 lakh
1.5 lakh -as per 2014 amendments of I T act
1.5 LAKH IN AY 2015/16
1.5 lac for AY 2015-16
Tax exemption limit under 80C raised to Rs 1.5 lakh
The Direct Taxes Code (DTC) too had recommended that the combined ceiling for investments and expenditures be raised to Rs 1.5 lakh per annum.
Total Deduction under section 80C, 80CCC and 80CCD(1) together cannot exceed Rs 1,50,000 for the financial year 2014-15.
for Financial Year 2014-15 - 1.5 lac
is there any condition for PPF should be 50k or any investment under 80c ??
| Originally posted by : Amod Ranjan | ||
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is there any condition for PPF should be 50k or any investment under 80c ?? |
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No, it may be upto 1.5 lac now.
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