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Income for FY 2019-20

Others 263 views 6 replies
Hi..

Since FY 19-20 has been extended from 31 March to 30 June, wanted to understand if we also need to consider income for the period 01 April to 30 June for the computation of income tax liability of current FY?
Replies (6)
No Mam, F.Y 19-20 is not extended.

F.Y. 19-20 will remain same from Apr'19 to Mar'20
Thankyou karan,
should we invest or donate upto 31st March to get benefit of section 80C or 80G or we can do the same upto 30th June 2020 ?
There are certain doubts regarding that

because as per relief measure announced by FM, it says due date of "any compliance by the taxpayer including investment in saving instruments" is extended to 30th June . So according to me investment u/s 80C and donation u/s sec 80G both should be covered.

But CBDT has not come with any further clarification yet.

So its better if you can invest up to 31st Mar to avoid future difficulty.
Okay, thankyou
Firstly I say Sorry for attending this query after giving thanks by Querist...

Now,

Yes... I agreed to Mr Karan Singh replies...

@ Mr Chhaya Jain.,

As per Your query.,

No... FY not extending to Jun-2020. But, The recent press releases says due dates are extended.

It's mean the deduction related investment can be invest up-to 30th Jun-2020. But, The dues will be on or before 31st March dues only. We can't avail exemption if FY 19-20 return if we paid April dues...

Finally we want to wait exact clarification by departments...

No the FY 19-20 will only include the period April 2019 to March 2020. 

 


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