thanks everyone for your inputs...
CA Shankar Mallick
(Proprietor)
(240 Points)
Replied 03 September 2014
hi....
deduction u/s 80c is available only upto Rs. 1.00 lac for the A.Y. 14-15. Since u have invested Rs.2.00 lacs and shown Rs.1.00 lac in the IT return, therefore, it is correct to claim the amount of deduction. However, if u have shown Rs. 2.00 lacs instead of Rs.1.00 lac then also u are eligible to take the benefit of 1.00 lac deduction u/s 80c.
pls write for further clarification................!
Ravi Chandra
(CA FINAL)
(98 Points)
Replied 06 September 2014
There is no need to file return again. There will no impact even if 80C amount is more than one lakh.
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