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 ?
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 06 January 2011
CA NEHA AGARWAL
(Practise)
(227 Points)
Replied 06 January 2011
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 | ||
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Maximum deduction Is RS. 100000 u/s 80C |
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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)
(21056 Points)
Replied 29 April 2011
Originally posted by : jackson | ||
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if i study a part time course is the tution fees eligible for deduction |
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not eligible
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