I have client who has invested in national saving certificate (kisan patra) in 2010 and he has not claimed any deduction before. Now he wants to claim this deduction for Ay 2018-19.can he claim such deduction??
Menu
Deduction of 80 c
Replies (4)
Yes... He can only between Apr 17 to Mar 18...
Pl tell me clearly i am not getting it
If it's NSC then you can claim the FY related...
If he is invest Rs. 10000 on 2010 - 11 and earn Int 8.8%*. He can declare under Sec 80C Rs. 10000 in AY 2011-12..
And he is continued 2010- 11 to 2016 - 17.. and He is not shown in His return...
In case he Invest again Rs. 10000 in FY 2017-18 then He can claim the 10k in his Return (AY 2018-19)... Also Interest is Taxable under IFOS...
He can not take benefit for investment made in 2010. But yes, he can take benefit if he / she purchased fresh NSC in financial year 2017-18 or we can say A. Y. 2018-19
Recent Topics :
- IGST on Commercial Rental Income (Different State)
- Revocation of suo moto cancelled GST registration
- Is there any faculty taking chapterwise test in CA
- Late Fees and Interest
- HDFC Bank’s Bureaucracy: The Nightmare of Fl
- Running a CSC Center, Maha E-Seva Kendra, Setu Ken
- GSTR-9 Table 8A issue
- CA Inter Coaching institutes at Hyderabad
- Looking for practising CA
- TDS return filing
Related Topics :
CAclubindia
