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Claiming deductions under 80c (fixed deposits)
Can we claim deduction on Fixed Deposits which was deposited on 26-02-2016 for the AY 2017-18, the same deposit was not claimed for the AY 2016-17 at the time of filing of IT returns.
Replies (9)
No, allowed only in the year it was booked.. Secondly the FD should be specifically allowed for 80C deduction.
yes... not allowed in other financial year...
Deduction allowed u/s 80C in the year of Utilisation of Income ..
Allowable only in the year it booked ...
Only tax saver deposits prescribed for this purpose are allowed to be claimed in the year of depositing the sum. AY 2016-17 in this case
Yes it cannot be allowed in AY 17-18. As it relates to AY 16-17.
solution:
if return was filed in time limit then you can revise it and claim your deduction.
if return was filed in time limit then you can revise it and claim your deduction.
not allowed in a. y. 2017-18, FD specifically made for 80 C purpose is allowed for deduction. in this case deduction is available only for A Y 16-17
Thanq you all for your suggestion
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