TaxTMI 
TaxTMI 
Raising the limit of deduction under 80CCC
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....aising the limit of deduction under 80CCC<br> Query (Issue) Started By: - Admin TMI Dated:- 28-2-2015 Last Reply Date:- 28-2-2015 Income Tax<br>Got 1 Reply<br>Income Tax<br>Question - What are the ch....
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....anges in limit of Section 80CCC in Finance Bill 2015 ? Reply By Admin TMI: The Reply: Raising the limit of deduction under 80CCC Under the existing provisions contained in sub-section (1) of the se....
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....ction 80CCC, an assessee, being an individual is allowed a deduction upto one lakh rupees in the computation of his total income, of an amount paid or deposited by him to effect or keep in force a con....
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....tract for any annuity plan of Life Insurance Corporation of India or any other insurer for receiving pension from a fund set up under a pension scheme. In order to promote social security, it is prop....
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....osed to amend sub-section (1) of the said section so as to raise the limit of deduction under section 80CCC from one lakh rupees to one hundred and fifty thousand rupees, within the overall limit prov....
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....ided in section 80CCE. This amendment will take effect from 1st April, 2016 and will, accordingly, apply in relation to the assessment year 2016-17 and subsequent assessment years.<br> Discussion For....
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