PPF DEPOSIT

This query is : Resolved 
Quick Summary
This discussion clarifies the accounting entry for a Public Provident Fund (PPF) deposit made on April 1st, 2020. The entry should be recorded in the books for the financial year 2020-21. However, the tax deduction for this deposit can still be claimed for the financial year 2019-20 during your tax return filing.

Profile Image

Profile Image

(Querist)
01 April 2020 Sir, we have deposit Rs. 56000 in PPF account on 01.04.2020 please suggest how to make the entry in books of account. PETERING to FY 2019-20
Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
01 April 2020 Entry of deposit has to be made in FY 2020-21 only but deduction can be claimed in FY 2019-20.
Profile Image

CA ARPIT BANGA

Profile Image

CA ARPIT BANGA (Expert)
03 April 2020 you can claim in 19-20 during return filing exercise
Profile Image

Spurto Consultancy Services

Profile Image

Spurto Consultancy Services (Expert)
03 April 2020 Yes entry to be made in FY 2020-21.
Deduction can be claimed in FY 2019-20
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries


Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Pro Member Aayesha mulaniAayesha mulaniPro Member Srijan AgarwalSrijan AgarwalPro Member Vidish BhattVidish BhattPro Member vijai guptavijai guptaPro Member Somnath HegdeSomnath Hegde
Subscribe to Pro
Join an elite circle of professionals



Answer Query



Quick Links



Browse by Category