home loan
Refer Your Friend
Forum Home   |    Search   |   Recent Topics   |  Hottest Topics    Register   |  Login 
Discussion forums » Income Tax Planning

Ask a Question
Topic: Investment of RS 1 lack will be directly deducted from the income?  XML
Author Message
Nalini


Offline

I want to know whether investment of RS 1 lack will be directly deducted from the income as per 80c or there is any clause regarding this
Prateek Agarwal


Offline

You are absolutely correct, Investment of Rs.1 Lakh shall be Deductable under section 80C directly from your Gross Total Income, Tax shall be levied on Net Income after such deduction.
 
Discussion forums » Income Tax Planning
Message Quick Reply

Go to: