re: categories under 80C

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 February 2010 Hello:
As per the announcement, the limit on 80C savings has been increased from 1 lakh to 1.20 lakhs.

Could you please let me know if there are any additions made to the categories under 80C?

Presently, we have
1. Premiums on life insurance policies
2. Pension plan premiums
3. ULIP premiums
4. PPF
5. ELSS etc

In addition to these, will any extraones also be added to accomodate the additional 20K?

Also, presently, one can invest only upto Rs 70, 000 per year in the PPF account. Is there any increase made in this limit?

thank you

G.Ramesh

G.Ramesh (Expert)
Follow

26 February 2010 Deduction of an additional amount of Rs.20000/- allowed, over and above existing limit of Rs.1 Lakh on tax savings, for investment in long term infrastructure bonds as notified by the Central Government