Deduction for savings: individuals may claim tax deduction for contributions to approved funds for self, spouse or child. An individual is permitted a deduction for the aggregate amount of contributions paid or deposited in a financial year to approved funds for accounts of ... Summary
Deduction for savings: individuals may claim tax deduction for contributions to approved funds for self, spouse or child.
An individual is permitted a deduction for the aggregate amount of contributions paid or deposited in a financial year to approved funds for accounts of the individual, the individual's spouse, or any child, subject to a statutory ceiling on the deductible aggregate.
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