What is 'previous year' ?

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Jeyaraj Athisayam (Querist)
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07 February 2012 as per circular No.05/2011 dated 16.08.2011. IT for FY 2011-2012 for sec 80 D, 80DD 80E etc, 'in computing the total income...... any amount paid by him in the previous year, out of his income chargeable to tax....

What is the meaning for 'amount paid by him in the previous year'?

Does it refer to amount paid in 2011-2012 i.e. FY? or 2010-2011? or for the AY's 2012-2013 previous year i.e 2011-2012?

Jeyaraj

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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07 February 2012 THE AMOUNT PAID DURING THAT FINANCIAL YEAR IN RESPECT OF WHICH THE INCOME TAX RETURN IS BEING FILED.
.
SUPPOSE , WE ARE FILING THE RETURN OF FY 2011-12, IT'S ASSESSMENT YEAR WILL BE 2012-13.
AS PER CIRCULAR DURING THE PREVIOUS YEAR MEANS DURING THE F.Y.2011-12.

Guest

Guest (Expert)

07 February 2012 It follows Amount paid in 2012-2012.

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