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but i sold that MF in fy 19-20.I have viloated the condition of section 80c now the deduction claim earlier will be withdrawn..
Where to show such deduction withdrawn in ITR?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?
Menu
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.
Recent Topics :
- TDS applicability of foreign remittance to Oracle
- GSTR 9 LATE FEE
- Best Online Mock Test Series for CA Inter January
- COST OF IMPROVEMENT
- Pillows and Mattresses
- GST Applicability for Reg. / Un-Reg. Indian custom
- Amended GST Act & Rules
- FAST DS 2026 MAIL QUERY
- Does Anyone need CA Foundation books of May2026 at
- Last day for ITR-U for AY 2023-2024 (FY 2022-2023)
Related Topics :
CAclubindia
