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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About 80 C investment deadline extended till June 30
Replies (16)
Quick Summary
Deduction can be claim which is the FY related only...
Have you seen the news recently?
Are You understand my reply...?!
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
See this news https://m.economictimes.com/wealth/tax/tax-saving-investments-for-fy-2019-20-allowed-till-june-30-2020/articleshow/74795249.cms
@ 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.
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.
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
Yes... I also agreed to Mr Ramakrishnan view...
The investments against which deduction will be claimed in FY 19-20 cannot be claimed again in FY 20-21.
All the tax saving investment made upto June 2020 can be claimed in FY 2019-20.
All the Tax saving investment for the period of FY 18-19 can be invest up-to 30th Jun-2020...
FY 19-20...
It's my mistake written...
It's my mistake written...
Thank you for all replies.
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