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Saving of income tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 February 2016 1. One wants to save tax by investing under section 80 in march 2016 and wants to withdraw the same amount in april 2016. in which cases is this possible?
2. By withdrawing the amount the income will be considered in FY 2016-17 or will be taxed in FY 2016-16?

As the person is short of liquid funds thus kindly suggest other ways in which one can transfer the income from this year to next year.
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
02 February 2016 short term investment is not consider for saving minimum locking Period 5 years Tax saving FD ,NSC , Insurance etc.

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