I have client who has invested in national saving certificate (kisan patra) in 2010 and he has not claimed any deduction before. Now he wants to claim this deduction for Ay 2018-19.can he claim such deduction??
4 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 18 February 2018
Yes... He can only between Apr 17 to Mar 18...
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 18 February 2018
If it's NSC then you can claim the FY related...
If he is invest Rs. 10000 on 2010 - 11 and earn Int 8.8%*. He can declare under Sec 80C Rs. 10000 in AY 2011-12..
And he is continued 2010- 11 to 2016 - 17.. and He is not shown in His return...
In case he Invest again Rs. 10000 in FY 2017-18 then He can claim the 10k in his Return (AY 2018-19)... Also Interest is Taxable under IFOS...
Income Tax Wala: (Fin. Expert)
(Chartered Accountants)
(2015 Points)
Replied 28 February 2018
He can not take benefit for investment made in 2010. But yes, he can take benefit if he / she purchased fresh NSC in financial year 2017-18 or we can say A. Y. 2018-19
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