contribution to annuity plan
This query is : Resolved
CA Abhishek Singh
(Querist)
05 June 2009
dear all
deducn in respect of cont to annity plan is given in both sec 80c as well as sec 80ccc.
in exam which sention to mention????
deducn in respect of cont to annity plan is given in both sec 80c as well as sec 80ccc.
in exam which sention to mention????
Manmohan ACA, CS
(Expert)
06 June 2009
as per basic income tax rule Specific provision always overrule General provision.
Since 80CCC specifically deals with the insurance Annuity plan, it will be exempted u/s 80CCC. However it is speifically mention that no deduction will be allowed u/s 80C if deduction is respect is allowed u/s 80 CCC.
so answer is 80CCC
Since 80CCC specifically deals with the insurance Annuity plan, it will be exempted u/s 80CCC. However it is speifically mention that no deduction will be allowed u/s 80C if deduction is respect is allowed u/s 80 CCC.
so answer is 80CCC
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