Deduction not claim
This query is : Resolved
25 July 2013
Dear sir,
i have some query regarding Deduction,
I have paid premium 85600(lic,pf,house loan prem.) in F/Y 2011-12, and claim same amount(lic,pf,h.loan.prem.) in A/Y-2012-13
now A/Y- 2013-14 i do not want to claim deduction(even if i have paid lic,pf, Houseload prem. in F/A-2012-13),
Is it possible?
if it is possible then i take assumption in next year..
i have some query regarding Deduction,
I have paid premium 85600(lic,pf,house loan prem.) in F/Y 2011-12, and claim same amount(lic,pf,h.loan.prem.) in A/Y-2012-13
now A/Y- 2013-14 i do not want to claim deduction(even if i have paid lic,pf, Houseload prem. in F/A-2012-13),
Is it possible?
if it is possible then i take assumption in next year..
25 July 2013
You can do this but it is not advisable. For the sake of continuity and accurate disclosure you should claim the deduction.
25 July 2013
thank you....
if i do not take assumption than i can save tax upto Rs.10,000,
it matter of relief U/S 89
if i do not claim deduction in A/Y 2013-14
my income will increase i will come in 20% slab rate than it will save amount upto Rs.10000
if i do not take assumption than i can save tax upto Rs.10,000,
it matter of relief U/S 89
if i do not claim deduction in A/Y 2013-14
my income will increase i will come in 20% slab rate than it will save amount upto Rs.10000
25 July 2013
To claim the deduction is in the discretion of the assessee. If you find it beneficial you may not claim the same.
.
In AY 2014-15- You can not claim the said payments.
.
Premium and investment made during the FY 2013-14 will only be eligible for deduction.
.
In AY 2014-15- You can not claim the said payments.
.
Premium and investment made during the FY 2013-14 will only be eligible for deduction.
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