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Change in financial year regarding

318 views 5 replies

Vikasanand Gupta

180 Points Joined November 2018

As the financial year has been shifted till 30th June 2020,

If I deposited any amount in PPF or other tax saving stream, in the April 2020, whether it could be treated as saving for the Financial year 2021-22 or for the current financial year which is upto June 2020.

Pls clarify.

Replies (5)

RAJA P M

"Do the Right Thing...!!!"

128116 Points Joined January 2015

FY not extending from 31st Mar-20 to 30th Jun-2020...

Some of the payments due date only extending to 30th Jun-2020 with. press release.

The FY extension applicable to RBI. Not for others.

Vishal Goel

Chartered Accountant

1693 Points Joined April 2014

Hello if u invested in April 2020 then it will be treated for the financial year 2019-2020.

Vikasanand Gupta

180 Points Joined November 2018

Vishal Goel ji, it means , 1st July 2020 is the starting period for investment for the period 2020-21.

Shivam RC

Student

23688 Points Joined November 2017

The Financial Year has not been extended to 30th June 2020. FY 2019-20 has ended on 31st March 2020.

However, the Government vide Ordinance has extended the last date for investment in Tax Savings instruments like 80C, 80D etc to 30th June 2020 , inorder to claim deduction for FY 2019-20.

RAJA P M

"Do the Right Thing...!!!"

128116 Points Joined January 2015

@ Mr Shivam RC.,

Well reply by You...! Also I know Your efforts and Interests...

But, I have some doubts...

Are You know the query asked on 30/03/2020...?

Are You found any mistakes in above replies...?