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Give some examples under sec. 80C? What is the maximum
limit ?
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Answer / reshma tabassum
Life Insurance Policy, any kind of funds, mutual funds,
payment on loan for house construction or purchase, term
deposit. The maximun amount of deduction cannot exceed RS
1,00,000
| Is This Answer Correct ? | 20 Yes | 7 No |
Under section 80C , 80CCC and 80CCD maximum limit is Rs.
1,00,000/-
Following are the example of 80C
1 )Payment of insurance premium of on the life of the
individual, the spouse or any child of
the individual.
2) Contribution made on any Provident Fund. This fund has to
be set up be Central govt and notified in official gazette
3) Subscription of security of the central govt or any such
deposit scheme as the Central Government may, by
notification in the Official Gazette,
4) Fees paid to university, college, school or other
educational institution. only for 2 children. Maximum Limit
1,00,000/- Please Note that aggregate amount of deduction
under section 80C , 80CCC and 80CCD shall not exceed Rs.
1,00,000/-
5)Any subscription made to any units of any Mutual Fund.
6)Any contribution made by an individual to any pension fund
set up by any Mutual Fund
7) Interest portion on Housing loan
8)Subscription to equity shares or debentures forming part
of any eligible issue of capital
9)Investment as a term deposit for a fixed period of not
less than five years with a scheduled bank. etc
| Is This Answer Correct ? | 10 Yes | 0 No |
Answer / venkata subbaiah
insurance
pli
housing loans
school pees
and maximum limit is rs 100000.
| Is This Answer Correct ? | 12 Yes | 5 No |
Answer / prabhu jeeragal
U/S 80C, we can invest in different schemes which can
be claimed for deduction from the Taxable income for the
purpose of obtaining Income tax.
Examples likely, LIC policies, Mutual funds, Repayment of Housing Laon - Principle Portoin, Tution fees paid upto two child maximum of 2 children, PLI, GIS, Public Provident Fund, National Saving Scheme, ULIP, etc.
Maximum limit for availing deduction for A.Y. 2011-12,
F.Y.2010-11 is Rs.1,00,000/-
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / d c venkata subbaiah
Under Section 80c-Rs100000/-
Housing loan Rs-250000/-
Please send me correct Answer my mail ID.
| Is This Answer Correct ? | 4 Yes | 8 No |
Answer / s.bhavani
Under Section 80C, we can invest in some schemes which can
be claimed for deduction from the Taxable income for the
purpose of Income tax.
Some examples are, Premium paid on LIC policies, Mutual
funds, Medical insurance, Interest portion on House loan
from approved institutions, School fees paid limit Rs.12000
per child maximum of 2 children, etc.
Maximum limit for availing deduction for A.Y. 2011-12,
F.Y.2010-11 is Rs.1,50,000/-
| Is This Answer Correct ? | 4 Yes | 10 No |
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