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Deferment of claim under Ch.VI A

Tax queries 123 views 2 replies

Venkatramana Shastry C

Student CA Final

90 Points Joined March 2014

Since the government has extended the deadline for Ch. VI A investment/deduction for F.Y 2019-20 upto 31 July 2020, Should a person who has incurred expenses between April to July 2020 MANDATORILY has to claim it for A.Y 2020-21? Or can that person claim such expenses in the F.Y 2020-21 i.e A.Y 2021-22?

Replies (2)

Sagar Patel

Tax and Business Consultant

11616 Points Joined July 2015

It's not mandatory to claim that expenses as deduction in A.Y 2020-21 itself, you can at your options claim that period (April to July 2020) expenses as deduction in A.Y 2020-21 or A.Y 2021-22.

Venkatramana Shastry C

Student CA Final

90 Points Joined March 2014

Originally posted by : Sagar Patel
	It's not mandatory to claim that expenses as deduction in A.Y 2020-21 itself, you can at your options claim that period (April to July 2020) expenses as deduction in A.Y 2020-21 or A.Y 2021-22.

But in all notified ITR's for A.Y 2020-21 clearly mention dates between 01/04/20 to 30/06/20(though last date is 31/07/20) to specify expenses. So, if one doesn't show actual amount spent within such period, how such person can claim those expenses during 2020-21?