Small saving Scheme in DTC and Income Tax Act 1961 Comparison

Posted: 19 Feb 2011 10:03 PM PST

1. The DTC-II document gets released and the tall claim relating to ` 3 lakhs benefits for small savings (vis-à-vis` 1 lakh at present under the Income-tax Act, 1961) needs to be demolished with the instances of provisions contained in DTC-II.Existing position for tax benefits under section 80C of the Act2. Section 80C, reintroduced in the Act from the assessment year 2006-07, provides deduction...

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