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Showing posts with label Income Tax. Show all posts
Showing posts with label Income Tax. Show all posts
SECTION 80CCF INFRA BONDS FOR FY 2012-13
07:01
Posted by Unknown
All individual are asking about benefits of the Budget 2012 but no body caring about losses . Nothing has been mentioned about deduction of 80CCF .
As per present rule 80CCF is allowed for FY 2011-12,as the same has not been enhanced in Finance Bill 2012 presented today o there will no deduction u/ s 80CCF from next year Financial Year 2012-13.
Direct tax code also does not have deduction for 80CCF,the same has been proposed to be adopted for coming year also.
After deletion of this clause there will be 6180 loss of tax for 30% slab and 4120 for 20 % slab and 2060% loss for 10% slab .
In Finance Bill 2011 this deduction was extended fro Financial year 2011-12 only by clause number 9
In Finance Bill 2011 this deduction was extended fro Financial year 2011-12 only by clause number 9
RAJEEV GANDHI EQUTIY SGAVING SCHEME SECTION 80CCG(NEW UPDATION)
06:41
Posted by Unknown
Finance Act 2012 has inserted a new section 80 CCG, This will be applicable for the A.Y. 2013-14.
Following conditions must be fulfilled to claim this deduction:
i. The gross total income of the assessee for the relevant Assessment Year should not exceed Rs. 10,00,000.
ii. The assessee must be an individual New retail investor, the details of which will be specified by the Government in due course when the detailed scheme is being framed.
iii. The investment is made by the individual only in such listed equity shares as will be specified by a detailed scheme to be announced at a later date.
iv. The investment in equity shares is locked for three years from the date of acquisition.
v. Any other conditions which may be prescribed by the Government in due course.
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