SEC-80c Deduction for Specified investment

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23 Points Posted on 25 May 2020
Mode of Payment
eligible for Deduction U/s 80C

is Any Mode Is eligible for deduction U/s 80C?
whether it cover Cash Mode payment?
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On 25 May 2020 at 13:13 Report
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Quick Summary
This discussion clarifies the eligibility of cash payments for deductions under Section 80C. While cash donations exceeding £2,000 are disallowed from FY 2017-18 for 80G, insurance premiums paid in cash are still eligible for 80C deductions.

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Finance/Compliance Consultant
69568 Points Posted on 29 May 2020

Cash Payment is not allowed for claiming deductions under 80C

From FY 2017-18 any donations made in cash exceeding Rs 2,000 will not be allowed as deduction. The donations above Rs 2000 should be made in any mode other than cash to qualify for 80G deduction.

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On 29 May 2020 at 12:11
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23 Points Posted on 30 May 2020
Actually I am Talking About insurance premium Paid in cash Whether It's allowed U/s 80c
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On 30 May 2020 at 18:17
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Tax and Business Consultant
11616 Points Posted on 23 July 2020
Yes, you can claim deduction u/s 80C whether you paid premium in cash or cheque , both are allowed.
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On 23 July 2020 at 16:56

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