LATEST REGARDING 80C AND 80E OF INCOME TAX ACT,1961

K N V S SIVAKUMAR (QUALITY LEAD AT CHEGG INDIA PVT LTD)   (964 Points)

21 October 2010  

 

Section 80C of the Income-tax Act, 1961 - Deductions - In respect of insurance premium, etc. - Notified plan under section 80C(2)(xii)

 

Notification No. 80/2010[F.No.178/04/2009-ITA-1], dated 19-10-2010

 

 

In exercise of powers conferred by clause (xii) of sub-section (2) of section 80C of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the Tata AIG Easy Retire Annuity Plan of the Tata AIG Life Insurance Company Limited, as approved by Insurance Regulatory and Development Authority vide its letter dated 23rd November, 2007, as the annuity plan of the ICICI Prudential Life Insurance Company Limited for the purposes of the said clause (xii).

 

2. This notification shall come into force from the date of its publication in the Official Gazette.

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Section 80E of the Income-tax Act, 1961- Deduction - In respect of interest on loan taken for higher education - Financial institution notified for purpose of section 80E(3)(b)

 

Notification No. 79/2010[F.No.178/49/2008-ITA-I], dated 13-10-2010

 

 

In exercise of the powers conferred by clause (b) of sub-section (3) of section 80E of the Income Tax Act, 1961 (43 of 1961), the Central Government hereby specifies the “Credila Financial Services Private Limited”, BO301, Citi Point, Andheri- Kurla Road, Andheri (East), Mumbai - 400059 as a “Financial Institution” for the purpose of Section 80E of the said Act.