As the IT dept. extended the date of investment till 31 july 2020 for AY 2020-21.
My query is that-
can i avail partly exemption in both the AYs ie. 2020-21 and 2021-22
if the investment done in july 2020?
for example- if i invested 150000 in PPF on 1 july 2020.
and avail exemption of Rs 30000 in AY 20-21 and Rs 120000 in AY 21-22.
Can that be done?
5 Replies
Himanshu
(Student CA Final )
(114 Points)
Replied 21 August 2020
Yes, for the investments made after 31.03.20 but for AY 2020-21 there is a separate requirement of disclosure by which I.T department extend benefit of rest of investment in next AY.
bhushan dronkar
(48 Points)
Replied 21 August 2020
Thanks both of you....can you tell me where to disclose it in the itr. Is there any specific form notified for it?
Himanshu
(Student CA Final )
(114 Points)
Replied 21 August 2020
A separate schedule is given in the ITR Form.
Recent Topics
- FORM 10 IEA IN Revised return
- ITC Eligibility on GTA
- Top Highest Tax-Paying Celebrities: FY 2023-24
- Misplace society Bye law
- Submit ommited invoice of previous year
- Need your valueble insight
- GSTR-9 Invoices
- Agricultural Business Loss
- Reporting in gstr9 of ITC of Previous year reverse
- Tax on Reimbursement of House Rent
Related Threads
CAclubindia
