Buy nsc for previous financial year.

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NishPat (Querist)
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20 April 2015 For the Financial Year 2014-15, I did not make any investment under Section 80C. However, now, in April, I would like to purchase National Saving Certificates (NSC) for an amount of Rs1,00,000. My query is, can I show these certificates under Section 80C for the year of FY 2014-15 and claim tax rebate for the same? Or should the certificates have to be purchased in the Financial Year only for which tax deduction is claimed? I am yet to file my Income Tax Returns for FY 2014-15.

Thanks in advance.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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20 April 2015 You can get deduction for FY 2015-16 since you are investing in FY 2015-16.Deduction is allowable on payment basis.
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CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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20 April 2015 you cant do that dear... u r purchasing in this current year so deduction wil b avaiable in this current year not previous year dear

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NishPat

NishPat (Querist)
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20 April 2015 Paras and Ankit Sirs, is there any way for me to make any more investments now, which can be used for getting deductions for FY 2014-15??

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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20 April 2015 i dont think so any investment is availble for which u can get deductions from back date dear...

because now all investment made wil b for current year