80c ded doubts!!
This query is : Resolved
18 July 2008
from AY 07-08 , we can claim a FD of 5 years as 80c ded. my doubt is . if in the prev year, a sum of 50000 was deposited and we claimed ded u/s 80c, can we claim the same amount this year also?
CA. A. Kumar
(Expert)
18 July 2008
NO. DEDUCTION AVAILABLE FOR AMOUNT DEPOSIT IN SAME F/Y.
Late CA Sampat Jain
(Expert)
18 July 2008
deduction is in the year in which investment is made subject to overall ceiling u/s 80c
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