80C REBATE

302 views 8 replies
ACCORDING TO FINANCE MINISTER STATEMENT FINANCIAL YEAR IS EXTENDED UPTO 30JUNE 2020 THEN WHAT WILL HAPPENN WITH 80C INVESTMENTS THE PERSONS HAVE NOT DONE THERE PROPER INVESTMENTS WHAT WILL HAPPEN

pls guide
Replies (8)
Dear Mr Shilpawandee.,

The FY not extending to Jun-2020. Some of the payments, Returns & reports are extended to 30th Jun-2020 which is dues in said periods like march, April and May...

But,
For investment related any dues payable on or before 31st Mar-20 then Assessee can be pay the dues on or before 30th Jun-2020...

Ex: A LIC due is payable on or before 31st March-2020. But, in current situation (we know the situation) it's risky to pay the period...
But, As per extended date the Assessee will be pay on or before 30th Jun-2020 for the march due and He can claim deduction in FY 19-20 ITR...
THANKS SIR

BUT IS THERE ANY CIRCULAR RELATED THAT
Dept of Commerce, CBDT & CBIC issued press release only. No more notifications till date.

But, We will to further notifications.
Https://www.incometaxindiaefiling.gov.in/home
Follow this link and open the PDF dated 25/03/2020.

And one more thing @ shilpawandee 80C is not a rebate its a investment linked deduction.
Thanks

What happens if one has finished investing for fy 19-20, and he wants to invest for next fy 20-21. If investment is done in Apr 20 will it count for 20-21 or he has to wait for July 1 to contribute.

Yes... It's Your choice.

As per Govt instruction You can claim in FY 19-20 as of covid-19 curfew...
If You will the investments in FY 20-21 then You can claim.
But,
Main condition You will be claim only once and it's can't twice.
So, It's Your choice and take care for claim in single Year.
Https://sanjithkotni.blogspot.com/?m=1


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Related Threads
Loading