Budget 2012-13 & Investment Under section 80C

POSTED BY BanyanFA ON March 16, 2012 1:30 pm COMMENTS (11)

Hi,

As DTC didn’t go through in this year’s budget, does it mean any change to the tax investments which we do under section 80C of Income Tax Act ? Does it mean that ELSS mutual funds have got another 1 year life extension ?

 

Regards

BFA

11 replies on this article “Budget 2012-13 & Investment Under section 80C”

  1. Kapil Malhotra says:

    I would like to hear more on the Rajiv Gandhi Equity Scheme. The what and hows of it.

    As Manish said – “However there is still unclarity on a 50,000 possible additional investment in Rajiv Gandhi Equity Saving Scheme and 10,000 additional tax saving on a special Tax free Infra bond, but lets wait for some time to get more clarity on this .”

    Do we have more clarity now on –
    1. How to invest?
    2. is 50k is over and above 1 lakh under 80C?
    3. is the investment have to be made in lumpsum?

  2. Kapil Malhotra says:

    Do we have more clarity on them now? Can someone please give explanations to unanswered questions?

    1. BanyanFA says:

      Hi Kapil,
      What specific questions are you seeking a response against ?

      Regards
      BanyanFA

  3. Dear BanyanFA, the 60000 Crore tax free infrastructure may be the substitute of the taxable infra bonds, you may not save a single penny in tax but the maturity amount ‘ll remain tax free & which is a huge plus.

    Thanks

    Ashal

  4. BanyanFA says:

    Hi,
    Another clarification, has the deduction under section 80CCF for 20K investment into Infrastructure Bonds has been abolished under the budget ?

    Some one told me about it but I couldn’t find a reference on this in the Finance bill.

    Regards
    BFA

    1. Dear BanyanFA, please wait for some clarity on the same from Govt. of India in next few days.

      Thanks

      Ashal

  5. I compliment Ashal’s comment. DTC is having lots of implementation difficulties. The only sad part of this budget is, People with lower salaries are not benefited. Only people who have higher salaries stand to gain.

    For now, lets continue SIP in ELSS……

    1. Dear Wealthucreate, to me Budget is a non event & for every other tax payer it should be like that only. Regarding benefit for higher income slab, my dear friend, step by step Govt. is inching close to DTC. 2L Rs. was the base slab for zero tax in DTC proposals.

      Thanks

      Ashal

  6. Dear BanyaFA, 80C + ELSS status is same as on date. No change for the fate of ELSS. I’m in doubt that DTC ‘ll be implemented even from 1st april 2013. As per hope of dear FM, GST may be introduced from August 2012 but DTC, I doubt for the implementation.

    Thanks

    Ashal

  7. Definately . I already mentioned earliar that DTC is not coming this year for sure . So ELSS gets one more year 🙂 .

    80C limits are same . However there is still unclarity on a 50,000 possible additional investment in Rajiv Gandhi Equity Saving Scheme and 10,000 additional tax saving on a special Tax free Infra bond, but lets wait for some time to get more clarity on this .

    Manish

    1. Jeetu says:

      Hi Manish…

      Hope this link may be useful to all regarding Rajiv Gandhi Equity Savings Scheme:

      http://www.moneycontrol.com/news/others/budget-2012-minor-tweaks-for-retail-investors-not-enough_680784.html

      Jeetu

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Join 1,60,000 email subscribers

FREE Video Lessons directly in your email daily

144 page PDF ebook with best articles from Jagoinvestor

Get future articles directly on your mailbox + updates


6 PART VIDEO COURSE

FREE 

 

 

Check your Email and Click on the Confirmation Link

Join 1,60,000 email subscribers

FREE Video Lessons directly in your email daily

144 page PDF ebook with best articles from Jagoinvestor

Get future articles directly on your mailbox + updates


6 PART VIDEO COURSE

FREE 

 

 

Check your Email and Click on the Confirmation Link