Sec 80JJAA

Save Share

This query is : Resolved

Quick Summary

Section 80JJAA, effective from 1st April 2017 (Assessment Year 2017-18 onwards), is applicable to companies. It allows for a deduction for three assessment years, including the year employment is provided. This means if your company recruited employees in the financial year 2019-20, you may be eligible to claim the deduction for FY 2019-20, 2020-21, and 2021-22, provided all conditions are met.

K BHEEMA REDDY

K BHEEMA REDDY (Querist)

13 July 2020 Dear sir,
I have one doubt regarding SEC 80JJAA .
1.what is the effective date of applicability of this sec 80JJAA
2.Whether this sec is applicable to company's or not
3. For how many years this section is applicable.

Thanks in advance.
Regards,
Bheema Reddy.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

14 July 2020 1. The present section is a substitution of the earlier existed section by the Finance Act 2016 and is effective from 1-4-2017 ie., assessment year 2017-18 onwards.

2. Applicable.

3. Three assessment years including the assessment year relevant to the previous year in which such employment is provided.

Message likes : 1 times

K BHEEMA REDDY

K BHEEMA REDDY (Querist)

15 July 2020 Dear sir,
Thank u for previous reply.
In Financial year 2019-20 our company is Recruiting so many employees .. i think we are eligible to claim sec 80jjaa deduction sub to conditions specified in that section for the f.y 2019-20, 2020-21, 2021-22.
is it correct or not.

Regards,
Bheema Reddy.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now