Query about income tax
This query is : Resolved
07 July 2012
Suppose particular assessee has withdrawn Rs 200000 from its PPF account after 7 yrs on 31.1.12 but for tax saving purpose he had deposited Rs 50000 on 15.2.12 to PPF account so whether said assessee will get deduction U/S 80C for deposited amt of rs.50000 even though net result of above transaction is Rs. 150000 withdrawal???
08 July 2012
Yes, he will get deduction U/s 80C for the amount deposited.
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