Mr.Dintakurthi Tirumala

The previous year consisting of 12 months in the question raised by Mr.Vijay Bhaker is from March in the earlier Finacial Year to March in the current Financial Year.  His question is very clear. He is asking when the income from for the year under consdieration i.e. from the month of March  in the earlier financial year to the month of February  in the current financial but the investment made for consideration of deduction u/s 80C is not made in the same period.  The investment is made in the next month ie. March of the current financial year.  Here the point to be kept in mind is that the income for the month of March of the current financial year will be offered to tax as per the method adopted by the assesee in the next assessment year.  In such a situation, Mr. Vijay Bhasker is asking whether the investment made, is eligible for deduction u/s 80C for the current assessment year?

Can an expenditure will be allowed to be deducted without offering to tax the income earned? Here the question is not expenditure but an investment.  The income for the concerned period in which the investment made is not offered to tax. But the investment is being claimed for deduction u/s 80C.  Mr.Vijay Basker is seeking clarification can the claim made u/s 80C is admissible and wil it be allowed by the income-tax authorities?

Mr.Dintakurhi Tirumala you have produly declared yourself as an expert in this caclubindia.com and you need no more clarification to understand the question.  If you feel that you need some more clarification it should be construed that something is wrong with your understanding capacity.

Best Wishes

Sathiknda

Mr.Dintakurthi Tirumala

The previous year consisting of 12 months in the question raised by Mr.Vijay Bhaker is from March in the earlier Finacial Year to March in the current Financial Year.  His question is very clear. He is asking when the income from for the year under consdieration i.e. from the month of March  in the earlier financial year to the month of February  in the current financial but the investment made for consideration of deduction u/s 80C is not made in the same period.  The investment is made in the next month ie. March of the current financial year.  Here the point to be kept in mind is that the income for the month of March of the current financial year will be offered to tax as per the method adopted by the assesee in the next assessment year.  In such a situation, Mr. Vijay Bhasker is asking whether the investment made, is eligible for deduction u/s 80C for the current assessment year?

Can an expenditure will be allowed to be deducted without offering to tax the income earned? Here the question is not expenditure but an investment.  The income for the concerned period in which the investment made is not offered to tax. But the investment is being claimed for deduction u/s 80C.  Mr.Vijay Basker is seeking clarification can the claim made u/s 80C is admissible and wil it be allowed by the income-tax authorities?

Mr.Dintakurhi Tirumala you have produly declared yourself as an expert in this caclubindia.com and you need no more clarification to understand the question.  If you feel that you need some more clarification it should be construed that something is wrong with your understanding capacity.

Best Wishes

Sathikonda

I already understood  the question of  Mr.Vijay Bhaskar.

OM SAI SRI SAI JAI JAI SAI