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80c calcuation

(Querist) 05 April 2008 This query is : Resolved 
1. If I buy (on spouse name) MF/Bond/ELSS online, how can I claim deduction u/s 80C? How deduction will be calculated? Is it necessary to keep them more than 1yr to claim deduction? Will be complete amt. invested in a year fully exempted even if hold them for 3yr and continue investing? How tax will be calculated on sale?

2. Can I claim medical reimbursement by submitting bills from medical store? Plz elaborate
Jithendra.H.J (Expert) 16 April 2008
1)whatever the extra amount you get above the face value will be charged, maximum ceiling limit is one lakh. you have to keep until its maturity other wise claimed deductiion will be withdrawn.

2) refer 80ddb and 80dd
Jitender (Expert) 26 April 2008
medical reimbursement over 15000 is taxable.


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