Dear Professional collegagues,
Please clarify whether exmeption under section 80CC with respect to "Infrastructure Bonds" is available or not.
What is "Equity linked shares". Under what section this can be claimed under Salary.
Surya Prakash
B.Com., AICMA
M/29353
From the FY 2012-13 exemption for "Infrastructure Bonds" are not available.
From AY 2013-14 exemption in respect of infrastucture bomds cannot be availed
and before exemption can be availed u/s 80CCF
deduction of 20,000 of infrastructure bonds have been withdrawn. In place of it Rajiv Gandhi Equity Savings scheme has been introduced from AY 2013-14
Section 80CCF has been withdrawn from FY 2012-13. Hence no deduction is allowable under this section for the current FY onwards.
Deduction u/s 80CCF is not available in a/y 2013-14. but you may claim deduction u/s 80CCG in Rajiv Gandhi Equity Saving Scheme upto Rs. 50000/-. This scheme is for small investors.
| Originally posted by : CA Nitin K. Varshney | ||
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Deduction u/s 80CCF is not available in a/y 2013-14. but you may claim deduction u/s 80CCG in Rajiv Gandhi Equity Saving Scheme upto Rs. 50000/-. This scheme is for small investors. |
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Maximum Deduction U/s 80CCG in Rajiv Gandhi Equity Saving Scheme is Rs. 25000. Deduction criteria is "50% of the amount invested" and maximum limit on investment in eligible securities for the said purpose is 50000.
Details about RGESS
https://www.cdslindia.com/downloads/sebicirculars/SEBI%20Circular-Rajiv%20Gandhi%20Equity%20Savings%20Scheme,%202012.pdf
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