80C deduction mandatory
This query is : Resolved
29 April 2023
Dear Sir,
Its mandatory to Claim 80C deduction Can We file ITR without Claim 80C deduction taxable income before 80C deduction Rs.410000/-
Its mandatory to Claim 80C deduction Can We file ITR without Claim 80C deduction taxable income before 80C deduction Rs.410000/-
29 April 2023
Sec. 80C deduction is not mandatory, even in Old tax regime, while new tax regime do not allow such deduction at all.
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29 April 2023
It is not mandatory to claim this deduction, it can be beneficial for taxpayers as it helps to reduce their taxable income and hence, their tax liability. Taxpayers may choose to claim this deduction based on their individual financial situation and investment needs. However, it is important to note that if a taxpayer wishes to claim the deduction under section 80C, they must make the eligible investments or expenses within the specified time frame as mentioned in the Income Tax Act.
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29 April 2023
Thank you Very much Sir,
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29 April 2023
You are welcome.
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