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About 80 C investment deadline extended till June 30

28 March 2020

There is no clarification regarding the obvious question that arises in mind - since it falls into the next FY, what prevents one from claiming the same investment for 2 FYs for IT deduction?

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16 Replies

RAJA P M ("Do the Right Thing...!!!") (126997 Points)
Replied 28 March 2020

Deduction can be claim which is the FY related only...

Kannan J (8 Points)
Replied 28 March 2020

Have you seen the news recently?

RAJA P M ("Do the Right Thing...!!!") (126997 Points)
Replied 28 March 2020

Are You understand my reply...?!

(Guest)

@ kannan J
I think, just now you have read that recent news.

rama krishnan (12234 Points)
Replied 28 March 2020

Mr KANNAN, only deadline for certain statutory dates have been extended and not f. y. so f. y. 2019-20 is from 1/4/19 to 31/3/20 only

Kannan J (8 Points)
Replied 28 March 2020

See this news https://m.economictimes.com/wealth/tax/tax-saving-investments-for-fy-2019-20-allowed-till-june-30-2020/articleshow/74795249.cms

RAJA P M ("Do the Right Thing...!!!") (126997 Points)
Replied 28 March 2020

@ Mr Kannan J.,

What is in my reply...?

It's mean.,
You can pay above investment's Payments on or before 30th Jun-2020 which is the due period is 01/04/2019 to 31/03/2020 related payments only...

If a LIC due is Mar-20 but, You not paid it in March month then we can the due on or before 30th Jun-2020...
We can avail the benefit under 80C head in AY 20-21.

Note : if You paid Apr-2020 due then it's not claimable in AY 20-21.

rama krishnan (12234 Points)
Replied 28 March 2020

Mr. kannan, gone through your link. it states that since most of the 80c tax saving investments are made during March of every year and due to lock down in pursuance to corona pandemic,the march due date is extended to June 20 in order to claim the same in a y 2020-21 ITR. since as per the respective provisions of act, no deductions or expenses can be claimed twice, the same cannot be claimed for f. y. 2020-21