Forex

Under section of 80L of the Income Tax Act, there are few investments which are a matter of deduction in taxable amount. Here an assessee will get a deduction of amount upto Rs.12,000 - 15,000 from income on certain specified investments in government securities, UTI mutual funds, bonds and other tax saving schemes. An assessee will be entitled for deduction from his taxable income if he is getting interest or dividend on certain investment which are as follows :

* Investment in Securities of central or state government
* Investment in National Saving Schemes
* Investment in Debentures or Bonds of an institution/ authority/ public sector company/ cooperative society or other such organization notified by central government.
* Investment in under National Deposit Schemes as notified by Central Government
* Investment in under other schemes which are notified by central government like national saving schemes, time deposit schemes, recurring deposit schemes.
* Investment in under monthly income scheme of the post office
* Investment in units of UTI and Mutual Funds (under Section 10(23D) of the Income Tax Act)
* Investment in with banking institutions
* Investment in financial institution working for Industrial Development of India
* Investment in a public company limited working for providing long term financing of housing accommodation
* Investment in such authorities which are working for planning & development of cities and villages
* Investment in co-operative societies