Deduction under section 80c
This query is : Resolved
31 March 2012
Sir
I want to know if i make investment in prescribed u/s 80 c instruments(NSC/PPF) from money like fd matured , cash in passbook of previous fy is eligible for deduction or only if i make savings from that fy income?
Thanks
I want to know if i make investment in prescribed u/s 80 c instruments(NSC/PPF) from money like fd matured , cash in passbook of previous fy is eligible for deduction or only if i make savings from that fy income?
Thanks
CA Anshu Agarwal
(Expert)
31 March 2012
investment made in prescribed instruments are eligible for deduction u/s 80C irrespective of investment made out of savings of current financial year of preceding financial years.
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08 April 2012
Expert has correctly replied
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