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?
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)
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