Application of LUT

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This discussion clarifies the validity period of a Letter of Undertaking (LUT). An LUT applied for FY 2020-21 on 20th March 2020 is valid until 31st March 2021. It does not expire on 31st March 2020, meaning a fresh application is not required for the same financial year if submitted within the previous one. The general rule is that an LUT is applied for a specific financial year and remains valid until the end of that year.

Saroj Jyoti

Saroj Jyoti (Querist)

06 April 2020 Dear Experts ,

My query is regarding LUT (Letter of Undertaking) Validity or expiry, I wanted to know that when will be expiry of LUT if applied for FY 2020-21 on dated 20th March 2020 (i.e in FY 2019-20), or else company need to apply fresh LUT for FY 2020-21 if it's get expire on 31st March 2020.

Please help me know that.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

06 April 2020 Company need to apply fresh LUT for FY 2020-21 it's get expire on 31st March 2020.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

06 April 2020 Revised reply it will expire on 31st March 2021.

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RAJA P M

RAJA P M (Expert)

07 April 2020 FY 19-20 LUT expired on 31st Mar-20. Company will be apply new LUT for FY 20-21. FY 20-21 LUT expire on 31st Mar-21... File new LUT for FY 20-21...

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CA Suresh Jain

CA Suresh Jain (Expert)

11 April 2020 As per notification 16/2017-CT the LUT is to be applied for a financial year. The LUT submitted by you for FY 2020-21 shall be valid upto 31/03/2021 despite the fact that it is submitted on 20/03/2020

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