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80c deduction for salaried employee

264 views 6 replies

NIKITA ARORA

46 Points Joined February 2019

If a govt employee invest his amount in the month of march 2019 for claiming deduction u/s 80 c. Is he eligible for claiming deduction in A.Y.2019-20?

Replies (6)

A B Kundu

Professional

1427 Points Joined August 2012

YES, ELIGIBLE.

duvvuru achyuth

34 Points Joined June 2017

yes but maximum 150000

NIKITA ARORA

46 Points Joined February 2019

but salary for march 18 to feb 19 is taxable. so additional investment in the month of march 19 is eligible for claimimg deduction in a.y 19-20?

A B Kundu

Professional

1427 Points Joined August 2012

The period March to Feb is considered only for the calculation of Salary Income. For any other sources of income, expenditures, investments etc. April to March is considered.