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TMI BlogRaising the limit of deduction under 80CCCX X X X Extracts X X X X X X X X Extracts X X X X ..... Raising the limit of deduction under 80CCC X X X X Extracts X X X X X X X X Extracts X X X X ..... hanges 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 s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ection 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 co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntract 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 pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... posed 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 pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vided 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. X X X X Extracts X X X X X X X X Extracts X X X X ..... rum - Knowledge Sharing ..... X X X X Extracts X X X X X X X X Extracts X X X X
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