80 c deduction -PF Contribution
This query is : Resolved
10 February 2011
Friends,
Whether last 2 years Employees contribution can be claimed as a deduction for the current year under section 80C of IT act?
Whether last 2 years Employees contribution can be claimed as a deduction for the current year under section 80C of IT act?
10 February 2011
no.... only current year's employees contribution can be claimed in 80C.
Guest
Guest
(Expert)
10 February 2011
If it was deducted in the current year.
CMA Ramesh Krishnan
(Expert)
10 February 2011
yes,if it is deducted in the current year, you can
The purpose of 80C section giving deduction on eligible investment on payment basis. Payment made under the specified schemes during the previous year are qualified for deduction, regardless of the fact whether the payment relate to this previous year or years preceding year or following the previous year.
The purpose of 80C section giving deduction on eligible investment on payment basis. Payment made under the specified schemes during the previous year are qualified for deduction, regardless of the fact whether the payment relate to this previous year or years preceding year or following the previous year.
Guest
Guest
(Expert)
14 February 2011
Do you have still any doubt.
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