Saving in PPF in April-2020

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A user inquired whether a friend who deposited ₹1.5 lakh in PPF in April 2020 could claim this investment in the FY 2020-21 tax return, instead of the FY 2019-20. The response confirms that this is permissible, as it's not mandatory to claim the investment in the current financial year if the due date has been extended.

Tarun Ahuja

Tarun Ahuja (Querist)
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22 August 2020 Dear All,

One of my friend deposit 1.50 lakh in PPF in the month April-2020, he does not want to claim the same amount in f.y 2019-20 return , so question is that will he be eligible to claim in f.y 2020-21 return (next year) if he did not claim in f.y 2019-20 Return.

Thanks

PURUSOTTAM PANDA

PURUSOTTAM PANDA (Expert)
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23 August 2020 Tarun ji,
The intention behind the extension of due date for claiming investments is not that it is compulsory to claim it for FY 2019-20.
Thus, your friend can definitely claim the investment for FY 2020-21, if he doesn't claim it for the FY 2019-20.

Message likes : 2 times

Tarun Ahuja

Tarun Ahuja (Querist)
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24 August 2020 Thank you so much Purusottam Ji for reply.

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