80CCF
This query is : Resolved
04 June 2011
Suppose My total deduction U/s 80C is Rs. 85000 and I invest Rs. 25000 in registered Infrastructure bond. what should be total deduction u/s 80C and 80CCF
04 June 2011
The total Deduction that you can claim is of Rs. 110000.
04 June 2011
Under the Limit of Rs 1.00 Lac Section 80C, 80CCC and 80CCD are considered.
So 85000/ -will be fully allowed U/s 80C.
Further the amount of extra contribution of Rs 5000 can not be shown under these sections. Hence U/s 80CCF 20000/ only will be allowed as deduction.
So 85000/ -will be fully allowed U/s 80C.
Further the amount of extra contribution of Rs 5000 can not be shown under these sections. Hence U/s 80CCF 20000/ only will be allowed as deduction.
04 June 2011
Agree with Paras Sir.
You are eligible for a deduction of Rs 105000/-
85000/- u/s 80C
And
20000/- U/s 80CCF (Max Limit is Rs 20000/-)
You are eligible for a deduction of Rs 105000/-
85000/- u/s 80C
And
20000/- U/s 80CCF (Max Limit is Rs 20000/-)
05 June 2011
Agree with above experts opinion..
06 June 2011
why I am not aligible for excess Rs. 5000 of Infra bond u/s 80C? as section said infra bond deduction is available over and above Rs. 100000 of 80C. I suppose Total deduction available to me is should be 110000. is my openion is correct?
06 June 2011
Will you please mention the name of the so called registered infra-structure bonds ?
*
U/s 80C(xxii) -Only Notified Bonds are of NABARD.
*
In case you have invested in these then you are eligible to get Deduction U/s 80C and as such your deduction is limited to Section 80C only.
*
80CCF bonds are not covered under section 80C.
*
U/s 80C(xxii) -Only Notified Bonds are of NABARD.
*
In case you have invested in these then you are eligible to get Deduction U/s 80C and as such your deduction is limited to Section 80C only.
*
80CCF bonds are not covered under section 80C.
06 June 2011
No your opinion is not correct.
Deduction u/s 80CCF is available over and above Rs. 100000 of 80C, 80CCC and 80CCD.
Maximum deduction available u/s 80CCF is Rs 20000/-.
So even if you dont invest a rupee u/s 80C. and invest in Infra Bond U/s 80CCF of say Rs 1 Lac, still allowable deduction will be only Rs 20000/-.
Hope its clear.
Deduction u/s 80CCF is available over and above Rs. 100000 of 80C, 80CCC and 80CCD.
Maximum deduction available u/s 80CCF is Rs 20000/-.
So even if you dont invest a rupee u/s 80C. and invest in Infra Bond U/s 80CCF of say Rs 1 Lac, still allowable deduction will be only Rs 20000/-.
Hope its clear.
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