helo friends
i want to know the maximum deduction allowed for investing in PPF under 80C?
Has it increase to 100000 or remained smae i.e Rs.70000?
CA Jimmit D Mehta (Employed) (494 Points)
11 January 2010helo friends
i want to know the maximum deduction allowed for investing in PPF under 80C?
Has it increase to 100000 or remained smae i.e Rs.70000?
Amir
(Learner)
(4016 Points)
Replied 11 January 2010
Dear jimmit,
u/s 80 C Maximium deduction is Rs. 1 Lac but in PPF the maximum amount that can be deposited in a year in a single account year is 70,000...
Vivek
(Finally passed CA Final...!!!!!)
(1097 Points)
Replied 11 January 2010
Though 80C allows upto 1 lac.... PPF rules says only 70000....
CA Pramod Jain
(manager finance)
(1577 Points)
Replied 11 January 2010
ONLY 70000/- can be deposited in ppf account in a financial year.
CA Reetika Agarwal
(Chartered Accountant)
(43 Points)
Replied 11 January 2010
in PPF max amount can be allowed 70000 Rs.
manish
(Article Assitant)
(358 Points)
Replied 11 January 2010
Under section 80C total deduction allows upto 1 lac only.... But in PPF rules, the maximum deduction is Rs.70000....
Bimal Thacker
(Proprietor)
(762 Points)
Replied 11 January 2010
If you want to take deduction of 100000 under section80C by investing only in PPF then invest Rs.70000 in self account and RS.30000in spouse
VIGNESH
(Manager Finance &Accounts)
(327 Points)
Replied 11 January 2010
The maximum deduction available under PPF is Rs70000/-
Sushant Singh
(Student)
(208 Points)
Replied 11 January 2010
Maximum Deduction u/s 80 C is RS. 100000 .
But, Maximum Deduction available in PPF is Rs. 70000
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 12 January 2010
| Originally posted by : Bimal Thacker | ||
 |
If you want to take deduction of 100000 under section80C by investing only in PPF then invest Rs.70000 in self account and RS.30000in spouse |  |
Yes You can claim1,00,000 in this mannner provided Your spouse doesnt claim and doesnt have any taxable iNCOME
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