Tax FAQ
 

What Is The Limit Of Section 80C Under Income Tax India For 2010-11?

Question by ramesh | Posted in India

Under Division 80C there is limit of Rs. 1,00,000/- for the year 2009-10 under Income Tax Act of India. What is the limit under Section 80C for 2010-11.

Answer: limit under sec. 80c for yr. 2010-2011 is 1,00,000 and additional 20,000 ,if u establish in infrastructure bond
 
 

Criteria Of Lock In Period In Insurance Products To Get Tax Exemption Under Section 80c Of Income Tax?

Question by richa | Posted in Insurance

Please simplify in detail the criteria of lock in period to get exemption under section 80c of income tax. also tell the link of the belles-lettres where I can study in detail the guide lines from income tax or IRDA regarding lock in period to this tax freedom

Answer: Any investment unwed for exemption under section 80C gets locked in for 3 years. Do you suppose that you can claim 20 to 30% deduct on your investment and then withdraw it the next day? Will the govt allow that? They want to use your money.
But if you want your riches back, here is something you can do:
Look for a ELSS MF that declares 50% dividend in March.
Invest Rs 1 Lac and opt for dividend pay out. If even if that the cum dividend NAV is Rs 20/- then you will get 5000 units.

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I Want To Invest In Which Bank Or Agency To Get 80C Income Tax Saver. And My?

Question by ram mulchandani | Posted in India

means can give me good return after my retirement age.?

Answer: All banks ...with such a Remarkable scheme where 'tax exemptions' are available under 80C with lock-in-period of five yrs. PAN card a must. Other Conditions employ.
Please check before finally deciding.
Best of banking ...!!

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Let Me Know The Income Tax Exemption Under S 80C About The Tution Fees Paid For The Education Of Children?

Question by bhushan1954 | Posted in India

I would like to positive that my son is going to study for MBA and my wife is also in govt service, If we pay the fees for our son jointly Rs 50000/- each and can set forth the same(50K each) by showing Rs 1 lakh receipt of the college?

Answer: Every affair about 80C

http://www.rediff.com/getahead/2005/dec/ 26tax.htm

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Can We Get The Deduction U/S 80C Of INCOME TAX ACT On The Repayment Of Loan Taken For House Property?

Question by Sahil | Posted in Other - Taxes


Answer: yes provided you are proprietress or co-owner of the said property. this 80 c is applicable for principal paid in the reported year to a max of 1 L
sec 24 is for the interest paid and to the max of 1.5 L. if your spouse and you are co owner both can get rebate to the frequency with ignore of 2 L in 80 C and 3 L in sec 24

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80C Deductions

www.taxbharat.org - A video show on 80C deductions.

80C - Income Tax , Best Investment Options

by Best Investments

Assesse cannot set forth tax extras for his own tution fees. There is a capture - if your annual bonus exceeds 20 per cent of the sum assured on your practice, you will not get the tax benefit. If Assessee have more then two children then he can put tutelage fees paid of only two children’s. Tution Fees: Result under this department is on tap for preparation fees paid on two children’s erudition. Pacify and better half both have a split limit of two children each, so they can require decrease for 2 children each. Guaranty: This includes a autobiography assurance strategy or a element-linked indemnity layout (ULIP).

Source: 80C - Income Tax , Best Investment Options

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