Deduction not claim

This query is : Resolved

Akash Anand (Querist)
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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..

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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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.

Akash Anand

Akash Anand (Querist)
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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

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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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.

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