Sir/Madam,
May I know, what is the limits of deduction for ppf contribution by an assessee U/s80C which is applicable for May 2012 IPCE.
Vikram Simha (Student) (75 Points)
01 March 2012Sir/Madam,
May I know, what is the limits of deduction for ppf contribution by an assessee U/s80C which is applicable for May 2012 IPCE.
Anumanchipalli Sathikonda
(Tax Consultant)
(1349 Points)
Replied 03 March 2012
Mr.Vikram Simha
The over all limit for all the investments/savings specified in Section 80C of Income-tax Act, 1961 is Rs.1,00,000/-. The PPF finds its place in clause (v) of sub-section (2) of Section 80C. No limit is specified in the said clause.
Please go through the section.
Best Wishes
Sathikonda
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