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Claim of benefit u/s 80c after declaration, Income Tax

Issue Id: - 1737
Dated: 28-1-2010
By:- Rahul Bagaria

Claim of benefit u/s 80c after declaration


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Is it mandatory to declare your contribution to PF under 80C and claim benefit.This is more so when you have insurance premiums and housing loan principal amount to your disposal under 80C. What will be the taxability if the same PF amount is withdrawan in more than 5 years and less than 5 years

Posts / Replies

Showing Replies 1 to 4 of 4 Records

Page: 1


1 Dated: 3-2-2010
By:- CA UMA KOTHARI
Several issues are mixed-up, which is not proper for this column. Maximum deduction u/s 80C has a limitation if you have paid more than the same deduction will be restricted to limit applicable in particular year. inestment in PF should be accounted for and declared, otherwise it can be cosnidered as undisclosed investmetn out of undiclsoed income. I do'nt think at present PF withdrawals is taxable- However,please check latest provisions and enrich readers from your reading in this regard to serve the purpsoe of discussion forum. In my personal view this is a column to discuss and share knowledge and information and not simpy to get information or consultation free of cost. The query and related information provided are not suitable for discussion forum. The issue must contain full facts, and basic information gathered by the query raiser and then only a discussion can be initiated.

2 Dated: 3-2-2010
By:- Rahul Bagaria
Uma, I don't forsee any issues being mixed in my views.Its a paid site and before coming to any conclusion on your own you shouild be equipped to judge other person worth and his background. As a matured professional, a matured reply was expected from you rather than some loose language.

3 Dated: 29-7-2010
By:- DEV KUMAR KOTHARI
I am shocked to see your comments posted on 03.02.10. I have seen your profile, considering the same readers expect some sharing of knowledge you must have considering your seniority, maturity etc. However, I found you have raised 27 queries/ issues, under reply I find five items out of which only one is a reply to some other query and rest are all clarifications on your own queries. There is no article posted by you. In such circumstances do you think you are contributring to discussions by merely raising queries? I had made reply to most of your queries under issue id no. 1737 and the answers given by me were correct.What you found loose language? Do you knwo what loose language means? Have you read my reply properly? before making allegations. Better have your own SWOAT analysis angry man.

4 Dated: 29-7-2010
By:- CA UMA KOTHARI
The reply dt.29.07.10 be consdiered by CA Uma Kothari due to some technical error there was no change in logging and logging of CA Dev Kumar Kothari continued. I am shocked to see your comments posted on 03.02.10. I have seen your profile, considering the same readers expect some sharing of knowledge you must have considering your seniority, maturity etc. However, I found you have raised 27 queries/ issues, under reply I find five items out of which only one is a reply to some other query and rest are all clarifications on your own queries. There is no article posted by you. In such circumstances do you think you are contributring to discussions by merely raising queries? I had made reply to most of your queries under issue id no. 1737 and the answers given by me were correct.What you found loose language? Do you knwo what loose language means? Have you read my reply properly? before making allegations. Better have your own SWOAT analysis angry man. CA UMA KOTHARI

Page: 1

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