Taxation Exam > Taxation Videos > Income Tax for assessment (Inter Level) > 80CCC Contribution Towards Pension Fund of Insurance Companies
80CCC Contribution Towards Pension Fund of Insurance Companies Video Lecture | Income Tax for assessment (Inter Level) - Taxation
|
405 videos|72 docs
|
FAQs on 80CCC Contribution Towards Pension Fund of Insurance Companies Video Lecture - Income Tax for assessment (Inter Level) - Taxation
| 1. What is the tax benefit of contributing towards a pension fund of insurance companies under section 80CCC? |  |
Ans. The tax benefit of contributing towards a pension fund of insurance companies under section 80CCC is that the amount contributed is eligible for deduction from the taxable income. This deduction is subject to a maximum limit of Rs. 1.5 lakh per financial year.
| 2. Are contributions made towards a pension fund of insurance companies taxable? | |
Ans. No, contributions made towards a pension fund of insurance companies are not taxable. The amount contributed can be claimed as a deduction from the taxable income under section 80CCC of the Income Tax Act.
| 3. Can I claim deductions for contributions made towards a pension fund of insurance companies if I am a salaried individual? | |
Ans. Yes, salaried individuals can claim deductions for contributions made towards a pension fund of insurance companies under section 80CCC. The amount contributed can be claimed as a deduction from the taxable income while calculating the total tax liability.
| 4. Is there a minimum limit for contributions towards a pension fund of insurance companies to avail tax benefits? | |
Ans. No, there is no minimum limit for contributions towards a pension fund of insurance companies to avail tax benefits under section 80CCC. However, it is important to note that the maximum limit for deduction is Rs. 1.5 lakh per financial year.
| 5. Can I claim deductions under section 80CCC for contributions made towards a pension fund of insurance companies if I have already claimed deductions under section 80C? | |
Ans. Yes, you can claim deductions under section 80CCC for contributions made towards a pension fund of insurance companies even if you have already claimed deductions under section 80C. Both sections allow separate deductions for different types of investments and expenses. However, the combined deduction under section 80C, 80CCC, and 80CCD(1) cannot exceed the maximum limit of Rs. 1.5 lakh per financial year.
Related Exams
About this Video
|
Nov 16, 2024 Last updated |
Video Description: 80CCC Contribution Towards Pension Fund of Insurance Companies for Taxation 2024 is part of Income Tax for assessment (Inter Level) preparation.
The notes and questions for 80CCC Contribution Towards Pension Fund of Insurance Companies have been prepared according to the Taxation exam syllabus.
Information about 80CCC Contribution Towards Pension Fund of Insurance Companies covers all important topics for Taxation 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for 80CCC Contribution Towards Pension Fund of Insurance Companies.
Introduction of 80CCC Contribution Towards Pension Fund of Insurance Companies in English is available as part of our Income Tax for assessment (Inter Level) for Taxation & 80CCC Contribution Towards Pension Fund of Insurance Companies in
Hindi for Income Tax for assessment (Inter Level) course. Download more important topics related with notes, lectures and mock test series for
Taxation Exam by signing up for free.
Description
Video Lecture & Questions for 80CCC Contribution Towards Pension Fund of Insurance Companies Video Lecture | Income Tax for assessment (Inter Level) - Taxation - Taxation full syllabus preparation | Free video for Taxation exam to prepare for Income Tax for assessment (Inter Level).
Information about 80CCC Contribution Towards Pension Fund of Insurance Companies
Here you can find the meaning of 80CCC Contribution Towards Pension Fund of Insurance Companies defined & explained in the simplest way possible.
Besides explaining types of 80CCC Contribution Towards Pension Fund of Insurance Companies theory, EduRev gives you an ample number of questions to practice 80CCC Contribution Towards Pension Fund of Insurance Companies tests,
examples and also practice Taxation tests.
|
405 videos|72 docs
|
|
Explore Courses for Taxation exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
past year papers
,Free
,practice quizzes
,Semester Notes
,80CCC Contribution Towards Pension Fund of Insurance Companies Video Lecture | Income Tax for assessment (Inter Level) - Taxation
,Previous Year Questions with Solutions
,shortcuts and tricks
,MCQs
,study material
,Summary
,Sample Paper
,Important questions
,ppt
,video lectures
,80CCC Contribution Towards Pension Fund of Insurance Companies Video Lecture | Income Tax for assessment (Inter Level) - Taxation
,mock tests for examination
,Extra Questions
,Viva Questions
,Objective type Questions
,Exam
,80CCC Contribution Towards Pension Fund of Insurance Companies Video Lecture | Income Tax for assessment (Inter Level) - Taxation
;
Study 80CCC Contribution Towards Pension Fund of Insurance Companies on the App
Students of Taxation can study 80CCC Contribution Towards Pension Fund of Insurance Companies alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the 80CCC Contribution Towards Pension Fund of Insurance Companies,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of 80CCC Contribution Towards Pension Fund of Insurance Companies is prepared as per the latest Taxation syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup