Deduction under Section 80C

• August 12, 2020
• CA Chandan Agarwal's Office

Deductions under section 80C to 80U are allowed from gross total income to compute total income however deduction is allowed only from normal income.

Deductions are not allowed from-

• Long term capital gains, Section 112
• Casual income, Section 58(4)
• Short term capital gains on sale of short term equity shares or short term units of equity oriented mutual funds provided securities transaction tax has been paid, Section 111A
• Long term capital gains on sale of long term equity shares or long term units of equity oriented mutual funds provided securities transaction tax has been paid, Section 112A

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