Tax

Section 80 CCD Section 80 CCD

1 year ago

Can we invest let's say 5000 in section 80 CCD (1) and the 50000 under section 80 CCD 1 (b). If yes how that can be done ? Note : For the remainder amount I intend to use ELSS as my option

Sundaravadivelu Velu

Responded 1 year ago

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A.As per income tax, all claims are subject to a maximum amount, which will change every year, and each section comes under a chapter. the entire chapter will give an exemption fixed amount only.
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Vidhi Samaadhaan Vidhi Samaadhaan

Kishan Dutt Kalaskar

Responded 1 year ago

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A.Dear Sir,
It is purely a question relating to financial matter as such it could be answered in a better way by either chartered accountant or auditor.
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