80c

Originally posted by : somboral
	A client has paid RS 45000 for the admission of her daughter  in a school  on February 2013. The breakup is as follows :- RS 30000 for the advance fees for the months April to September 2013 Rs 10000 as development fees Rs 5000 as miscellaneous  fees. My question :-will the Rs 30000 be included in 80C in the previous year 2012-2013[taken as it was paid on February of the previous year 2012-2013] or will it be included in the previous year 2013-2014{since the fees are for the period of April to September of the relevant previous year 2013-2014]?

You will get deduction of Rs.30,000/- u/s 80C in the year of payment i.e FY 2012-13.

U/s 80C deduction is allowed on payment basis irrespective of the period to which it pertains.

thanks... as he alreay exceeding 1 lakh...was looking to push it for the next financial year

No any deduction cannot be carry forward for the next year so you will not be able to allow such deduction in next f.y...

No Sir,under 80C only 1,00,000/- can be allowed as a deduction and the rest of the amount cannot be carry forward as it is allowed on payment basis........It is allowed as a deduction only in the year in which payment takes place......