01 July 2011
sir , whether tution fees under sec 80c is allowed on paid basis or on due basis say tution fees for march 2011 paid in april 2010 is allowed in which previous year ? n whether all the payment under 8c are allowed on paid basis?
01 July 2011
Since 80C is allowed to individuals and they maintain their accounts on cash system. Therefore, the same is to be allowed on cash system and not on accrual basis.