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Wat is 80cc? and examples
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Answer / saurav singh
Section 80C. – Section 80C was inserted from assessment year
2006-2007. It provides deductions from gross (total) income
for qualified amounts paid or deposited by the assessee in
the previous year.
Main Provisions.
1.The deduction is available only to an individual or a HUF
from the gross total income,
2.The deduction is allowed irrespective of whether such
amount is paid or deposited by the taxpayer out of his
income chargable to tax,
3.The deduction is available on the basis of specified
qualifying investments/contributions/payments made by the
taxpayer during the previous year,
4.The maximum amount deductible under section 80C is Rs.
1,00,000. Also the total amount of deductions under sections
80C, 80CCC and 80CCD is Rs. 1,00,000.
| Is This Answer Correct ? | 20 Yes | 9 No |
Answer / vishwanatha.d.r
We can save the tax U/s 80C and Rs.100000/-
| Is This Answer Correct ? | 29 Yes | 19 No |
80CCC
Contribution to an annuity plan of LIC for receiving
pension from the fund.
Maximum deduction: Rs.10000
| Is This Answer Correct ? | 20 Yes | 18 No |
Answer / anil
In under section 80c we can save our tax up to 100000/
| Is This Answer Correct ? | 11 Yes | 9 No |
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