Business Studies, asked by jkunal7219, 5 months ago

Mediclaim premium for parents (aged over 80 years) 30,000 The eligible deduction under Chapter VI A for the Assessment Year 2020-21 is ​

Answers

Answered by sushantpal005
1

Explanation:

The Chapter VI A of Income Tax Act contains the following sections: 80C: Deduction in respect of life insurance premium, deferred annuity, contributions to provident fund (PF), subscription to certain equity shares or debentures, etc. The deduction limit is Rs 1.5 lakh together with section 80CCC and section 80CCD(1).

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