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FY 2019-20 ends on 30th march or 30th june?

Others 544 views 4 replies
Financial year 2019-20 ends on which date??

if a person invest in PPF in 5th april,
will he get the benefit of 80C in FY 2019-20?
if yes then in which years balance sheet he should show this investment. FY 2019-20 or FY 2010-21?
Replies (4)
1. F.Y. will end on 31st March, 2020 ( No extension in F.Y.)
2. Yes, if a person deposit in PPF A/c on 5th of April, 2020 then he can claim deduction while filling Return of Income for the A.Y. 2020-21.

3. In the Books of account investment will be debited on 5th of April , date on which actually investment made. But while filling ROI for the A.Y. 2020-21 you can claim the deduction of investment made up to 30th June. (This is as per relief measure announced by F.M. recently)
@ Mr Debiprasad Jana.,

1. No... FY 19-20 ended 31st March 2020. It's not extended.


sorry for different view in 2nd question...

2. No...
PPF account can't have any due dates for deposit amount in that account. So, if we paid the amount in Apr-2020 then it will be claim in AY 2021-22.
As per extending due date of payments will claim which is due dates are on or before 31st March 20 that related payments can be paid up-to 30th Jun-2020 and it will claim AY 20-21...

3. As per my 2nd reply it will be in FY 20-21.

1. FY 19-20 will end on 31.03.2020.

2. The FM in its speech while announcing extension for regulatory compliance, mentioned that tax saving investments can be made upto 30.06.2020 for the FY 2019-20. However there is no such official notification yet. 

3. If the extension confirmation comes, then the PPF deposit can be claimed u/s 80C in FY 2019-20 instead of FY 2020-21

No it's end on 31 st march
The beginning of the fiscal year (2020-21) would begin normally on April 1


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