Sir,
My query is if some one PF deduction in his organisation is around Rs 1.50 Lakh then can he claim full amount or there is some ceiling to claim EPF in Section 80 C.
Is there any ceiling in EPF Deduction in Sec 80 C.
If I claim deduction of EPF of Rs 1.50 Lac then I can't claim any other deduction(means insurance,PPF)
Please update.
Thanks
Anshuman DIke
Yes you can claim the PF deduction of Rs. 1.5 Lacs from AY 15-16 (FY 14-15) due to following amendment made by Finance Act 2014.
The existing limit of deduction under section 80C to be increased from Rs.
1 lakh to Rs. 1.5 lakhs. The annual ceiling limit for investment in Public
Provident Fund to be increased from Rs. 1 lakh to Rs. 1.5 lakh.
yes you can
CAclubindia
