Section 80c

i have claimed deduction in 80c by investing in specified mutual fund for which lock in period is 3yrs.

Investment made in fy 18-19 & deduction claim ons Section 80C

but i sold that MF in fy 19-20.I have viloated the condition of section 80c now the deduction claim earlier will be withdrawn..

Where to show such deduction withdrawn in ITR?

and under which head?
Replies (2)
Quick Summary
If you've claimed a deduction under Section 80C for a mutual fund investment with a lock-in period and subsequently sold it before the lock-in expires, you've likely violated the conditions. This means the earlier deduction will be withdrawn. You need to report this withdrawn deduction in your Income Tax Return (ITR) for the financial year in which you sold the fund. This amount should be added back to your income under the 'Income from other sources' head and will be taxed at your normal income tax rate.

According to me it must be mentioned in the mutual fund documents. Kindly check the documents carefully.
Yes, it should be added back to Income via Head - Income from other sources in which you violated the condition i.e in F.Y 2019-20 and taxable at a normal income tax rate.

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