Buy nsc for previous financial year.

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This query is : Resolved

NishPat (Querist)

20 April 2015 For the Financial Year 2014-15, I did not make any investment under Section 80C. However, now, in April, I would like to purchase National Saving Certificates (NSC) for an amount of Rs1,00,000. My query is, can I show these certificates under Section 80C for the year of FY 2014-15 and claim tax rebate for the same? Or should the certificates have to be purchased in the Financial Year only for which tax deduction is claimed? I am yet to file my Income Tax Returns for FY 2014-15.

Thanks in advance.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

20 April 2015 You can get deduction for FY 2015-16 since you are investing in FY 2015-16.Deduction is allowable on payment basis.
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CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)

20 April 2015 you cant do that dear... u r purchasing in this current year so deduction wil b avaiable in this current year not previous year dear

Message likes : 1 times

NishPat

NishPat (Querist)

20 April 2015 Paras and Ankit Sirs, is there any way for me to make any more investments now, which can be used for getting deductions for FY 2014-15??

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)

20 April 2015 i dont think so any investment is availble for which u can get deductions from back date dear...

because now all investment made wil b for current year

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