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 in 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but i sold that MF in fy 19-20.I have viloated the condition of section 80c now the deduction claim earlier will be withdrawn..
Where to show such deduction withdrawn in ITR?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?
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Section 80C
Replies (5)
Quick Summary
I think it should be added back to Income via Head - Income from other sources
I agree with Asha sharma,i also have same view.
K tysm
but tax rate and slab of which year will be applicable?
but tax rate and slab of which year will be applicable?
Tax rate and slabs of f.y.2019-20 is applicable as you are sole mutual fund in f.y.2019-20 itself
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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