An individual has made investments in the schemes approved under section 80C, and 80CCD of ₹2,50,000 and ₹1,00,000 respectively during the year ended 31st March, 2015. Amount that can be claimed by him as deduction out o

CS Executive · Tax Laws and Practice · PYQS · December 2015
An individual has made investments in the schemes approved under section 80C, and 80CCD of ₹2,50,000 and ₹1,00,000 respectively during the year ended 31st March, 2015. Amount that can be claimed by him as deduction out of income in assessment year 2015-16 is
(A) 50% of ₹3,50,000
(B) ₹1,50,000 under section 80C and ₹1,00,000 under section 80CCD
(C) ₹1,50,000
(D) None of the above.

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Income Tax Act, 1961

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