Section cd

narayan kashinath bhide (Querist) 23 October 2011 This query is : Resolved
is it true that under section 80 cd of the itact 1961 deduction from income will in addition to section 80c deduction of rs. 1.00 lac will be allowed from fy 2011-2012

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Sailesh Kumar Shah Online

(Expert) 24 October 2011
there is no section 80 cd in the Income Tax Act.

It seems that you ask Sec. 80d.

You are right, you can claim deduction u/s 80d additionally other than 80c.

narayan kashinath bhide (Querist) 24 October 2011
thanks shaileshbut i am told that if one invests in new pension sheme the amount of investment is deductible from income in addition to the 1.00 lakh limit under section 80c

Sailesh Kumar Shah Online

(Expert) 24 October 2011
No, Pension amount is deductible only upto 1 lacs.

In Section 80d, you can take deduction of medical insurance premium.

prabhakar singh (Expert) 24 October 2011
Rightly advised by Expert Shailesh Kr. Shah

soumitra basu (Expert) 07 November 2011
In addition you can purchase bond of Rs. 20,000 and have a further deduction

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