80c deduction

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 January 2014 IF A SALARIED PERSON DOES NOT PROVIDE LIC RECEIPTS OF 12000 WITHIN THE FINANCIAL YEAR TO THE EMPLOYER AT THE TIME OF CLAIMING DEDUCTION.
NOW WHAT IS THE PROCEDURE & WHAT ABOUT FOR LIC RECEIPT,HOW IT CAN BE CLAIMED?????

CA Hardik Bunha

CA Hardik Bunha (Expert)
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06 January 2014 it will be claimed in the income return filling time.

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@VaibhavJ

@VaibhavJ (Expert)
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06 January 2014 HI

It should be collected before payment of last month salary & if no receipts is given then same should not be considered & no exemptions to be given.

Thanks

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CA Hardik Bunha

CA Hardik Bunha (Expert)
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06 January 2014 dear vaibhav

ye 80c ka question hai, exemption is me nahi ata.

Dear author you can claim deduction at the of filling of return your tax status will be converted in refund.

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@VaibhavJ

@VaibhavJ (Expert)
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06 January 2014 Dear Hardik,

I assumed it from employer side & replied accordingly!

Your reply stands valid too from employees perspective.