25 March 2013
Dear sir, Aman has deposited 9000 Rs for LIC premium in Oct 2011 and also deposited Rs 7200 for school fee during 2011-12 , now he wants to mention the above details in e filing return for AY 2012-13 , can he do so, if he can do so then make me understand that how he show the above transaction and in which option of ITR 2 he should mention the above transaction .pls clarify in easy way.
25 March 2013
Yes, he is eligible to claim such deduction u/s80C for A.Y 2012-13 only.
Disclose this deduction amount u/s 80C in ITR-2 by clubbing of both i.e Rs.16,200(9,000 for LIC + 7,200 for school fee).
Note: If school fee of Rs. 7,200 is any contained other fees other then tuition fee or term fee like exam fee,bus fee,lab fee or books fee etc.... then such quantity of amount of fees not eligible for deduction. I.e deduction u/s80C available only for Tuition fee or term fee.
If you not get the eligibility amount please produce the break up for fee payment of Rs.7,200.
As well is if any late payment charges in the payment of LIC premium then such late payment charges are not eligible for deduction.
08 April 2013
Yes I agree with the experts. Even if you do not have taxable income you should claim as if the case comes for scrutiny then it will help you in claiming the deduction
CAclubindia
