Provident Fund

This query is : Resolved

K Balaji (Querist)
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17 January 2009 In an Income Tax problem, a lady receving Rs.10,000 and Rs.1,500 as basic pay and D.A. In thas 12% has been deducted as P.F. by employer. Additionaly she is paying every month Rs.4,000 for Provident Fund from her own. Whether own contirbution to PF can be claimed as deduction under Chapter VI-A??????

Ram Avtar Singh

Ram Avtar Singh (Expert)
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17 January 2009 Since the lady is Contributing the VPF, it is allowable u/s 80C as a deduction from the GTI, However one has to see that whether she is contributing to PPF or EPF. the self contribution to the PPF is allowed of course without any hurdle.

However the total deduction u/s 80C is currently 1 lac.

Thanks

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VINOD KUMAR GUPTA

VINOD KUMAR GUPTA (Expert)
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17 January 2009 yes she can claim u/s 80C subject to max. rs. 100000.

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K V Subba Rao

K V Subba Rao (Expert)
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17 January 2009 Contributions to GPF, VPF and PPF are allowed without any hurdles subject to condition that total amount of Deduction us 80C is restricted to Rs 100000.