Sec. 80ccg

This query is : Resolved

Nishana (Querist)
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13 February 2013 Hi

For S. 80CCG deduction in AY 13-14, whether the date of investment should be on or after 21st Nov 2012?

Referred the notification and it says that it will come to force from the date of its publication in the official gazatte.

Kindly advise, whether it is allowable, if the investment made during the year (From April 12) provided all other conditions are satisfied

And if the demat account is held as joint account, who can claim the deduction u/s. 80CCG? If it is first name holder,in case first holder didnt claim deduction, can the other one claim deduction??

Pls advise..

Thanks in advance..

CA Suraj Lakhotia

CA Suraj Lakhotia (Expert)
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14 February 2013 There is no mention of Joint Account in the scheme.

New Retail Investors are eligible to claim deduction.

The new retail investor may make investment in eligible securities in one or more than one transactions during the year in which the deduction has to be claimed,