Hello,
I have paid advance Tution fees of Rs. 5000 in Feb'2010 for the quarter months of April,2011-June2011 of my child.
Now my query is tht can i deduct Rs. 5000 from my taxable incone in current financial year April 2010- March2011...though i have paid fees in Feb'2010....means in which year this deduction can be made ..in FY 2009-2010 or FY 2010-2011.
Thnx in advance
i think you will get deduction in year of payment made i.e. f.y.2009-10...
but wait for experts answer...
YOU CAN CLAIM DEDUCTION IN THE YEAR OF PAYMENT ONLY.I.E F.Y 2009-10
| Originally posted by : AMIT TODKARI | ||
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YOU CAN CLAIM DEDUCTION IN THE YEAR OF PAYMENT ONLY.I.E F.Y 2009-10 |
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Yes. he is correct. In the Year of Payment only
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