https://www.taxtmi.com/circulars?id=10018 Deduction under Section 80C is confined to payments made out of income chargeable to tax; payments that cannot be correlated to taxable income in the relevant year are not eligible. Contributions from mixed accounts are allowable only to the extent taxable income exceeds the payment, whereas payments from exclusively non-taxable sources, Provident Fund withdrawals, or loans are inadmissible. en-us Sun, 04 Mar 1973 00:00:00 +0530 Mon, 13 Jun 2011 12:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10018 Deduction under Section 80C is confined to payments made out of income chargeable to tax; payments that cannot be correlated to taxable income in the relevant year are not eligible. Contributions from mixed accounts are allowable only to the extent taxable income exceeds the payment, whereas payments from exclusively non-taxable sources, Provident Fund withdrawals, or loans are inadmissible. Circulars Income Tax Sun, 04 Mar 1973 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10018