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Other Points (1) Deduction ws BOC shall be allowed even if investment is made in these savings scheme son of assessee's savings of past previous year or out of any other income which is there exempt under Income Tax Act, (17) Deduction us 80C shall be allowed out of assessee's Gross Total Income. This deductura is not allowed out of assessee's income of Long Term Capital Gain and income from gambling etc (1) Deduction w/ 80C shall be allowed only if amount has been actually deposited or paid these savings schemes up to 31st March. So any amount due but not paid up to 31st March shall not qualify for this deduction ILLUSTRATION 42 Compute the amount of deduction admissible w/s 80C of the Act in following cases Case A Gross Total Income (including LTCG of 60,000) 132,400 Amount invested in NSC VI issue Amount invested in notified units of Equity linked saving scheme 20.000 Amount invested in notified shares 45.000 Case B Gross Total Income 4.82.400 Amount invested in NSC VIII issue 13.00 Amount invested in notified units of Equity linked saving scheme 22.000 Amount invested in PPF 75.000 Amount paid as life insurance premium (on a policy of 5 lakhs) 80.000 Policy taken in July 2013 Case C Gross Total Income (Including lottery prize of 50,000) 1.35.00 Amount invested in NSC VIII issue 11.00 Amount invested in RPF 42.000 Amount invested in PPF 35.000 15.00