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Tax savings 80 C

Ravindar (am) (13 Points)

31 March 2020

if i invest in tax savings on April 1st, 2020. in which year i have to claim tax benefit? If I want to claim for FY 2020-21, shall I do it on the said date?

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5 Replies

CA ARPIT BANGA (job ) (376 Points)
Replied 31 March 2020

The beginning of the fiscal year (2020-21) would begin normally on April 1
so if u invest after that it will include in 2020-21

Ravindar (am) (13 Points)
Replied 31 March 2020

But recently, it has extended to 30 th June, 2020.

rama krishnan (12234 Points)
Replied 31 March 2020

Mr ravinder, the due dates which falls up-to 29th June has been extended to 30th June. for tax savings under 80c, the due date which falls in March and due to lock down which is unable to invested within the due date, is extended to June and the same can be claimed for f. y. 2019-20. but if the due date itself falls after March (investments), then the same has to be claimed for f. y 2020-21

RAJA P M ("Do the Right Thing...!!!") (127351 Points)
Replied 31 March 2020

@ Mr Ravindar.,

No more extension for the FY 19-20. It's also same as every period from April to March. The FY 19-20 is 01/04/2019 to 31/03/2020.

The news is fake. There is a clarification press release from Ministry of Finance...