pls confirm max limit of deduction for principal amount in housing loan . if principla amount is1.22 will i require to invest in lic or other ?
13 Replies
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 06 January 2011
max deduction available 1 lac from total taxable income per year.
CA NEHA AGARWAL
(Practise)
(227 Points)
Replied 06 January 2011
Whatever principal amount of housing loan u pay will be allowed as deducted u/s 80c with the max. limit of Rs.1,00,000.00
Pravin Mahadik
(Practicing Cost Accountant)
(78 Points)
Replied 06 January 2011
There is no need to invest in lic or other, because u will get maximum deduction Rs. 1 lac u/s 80c
M .K. Jha
(CA Final)
(484 Points)
Replied 06 January 2011
Dear Prakrut,
You Can Take deduction U/s 80C for principle amount and any other inveatment aggregate 1 lacs only.
after it you don't need to invest any where.
SUNNY
(CA Final & CS Professional)
(327 Points)
Replied 06 January 2011
Maximum
deduction Is RS. 100000 u/s 80C
CA Saba Naaz
(Chartered Accountant)
(8487 Points)
Replied 06 January 2011
| Originally posted by : SUNNY | ||
 |
Maximum deduction Is RS. 100000 u/s 80C |
 |
CA MAULIK
(C.A)
(937 Points)
Replied 06 January 2011
MAX DEDUCTION UNDER SECTION 80C IS 100000 RS.....ALSO TAKE MEDICLAIM FROM lic WHICH WILL ENABLE U TO TAKE DEDUCTION OF premium AMOUNT UNDER sec 80D UPTO 15000 OR PREMIUM AMT W.E LOWER.....
also deduction under sec 80CCF is 20000 pa for pur.infra bonds
@*CS Siddharth Bumb. *
(B.Com, CA Final, CS )
(5270 Points)
Replied 07 January 2011
Maximum deduction for 80C in A.Y.2010-11 is Rs 100000/-,
and for A.Y 2011-12 - Rs 120000/-
excess 20000 in A.Y. 2011-12 is for Infrastructure bonds.....
CA Pratik Sirwani
(Chartered Accountant)
(127 Points)
Replied 07 January 2011
Maximum amount of deduction available u/s 80C is Rs. 1,00,000/- only. From A.Y. 2011-12, deduction of upto Rs.20,000/- will be available u/s 80CCF on investing in Infrastructure Bonds.
Rahul Sinha
(Team Lead)
(44 Points)
Replied 18 April 2011
For FY 2011-2012 has the following limits been changed
80C => 1Lac
80CCF => 0.2Lac
Rahul
Revanth
(Job)
(145 Points)
Replied 18 April 2011
Even if you invest any additional amount, you will get maximum of Rs.1,00,000/- deduction only.
jackson
(chumma tha iruken)
(21 Points)
Replied 29 April 2011
if i study a part time course is the tution fees eligible for deduction
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 29 April 2011
| Originally posted by : jackson | ||
|
|
if i study a part time course is the tution fees eligible for deduction |
|
not eligible
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