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Income tax 80c FY doubt

Tax planning 406 views 8 replies

If i deposit 20,000 in PPF now (April 2020) in which financial year shall it be accounted after the extension of dates to june 30 for investment by GOI.

 

 

Replies (8)
For the FY 18-19
@ Mr Ganesh.,

As per dept instructions, Assessee can be taken the investments into deduction in FY 19-20 which is deposited on or before 30th Jun-2020...

But,
it's always Your choice. You can take in FY 19-20 or FY 20-21.
@ raja pm
is it applicable only for PPF. OR CAN WE MAKE ANY OTHER. 80 C INVESTMENT

It is applicable to all tax saving schemes, PPF SSA NSC etc. 

 

@ Mr Jeevan Vivekji., All of the deductions can be avail in Your ITR filing of FY 19-20.
If a person open new PPF a/c and deposits 60000 in may 2020 so can he claim deduction u/s 80c for f yr 19-20 ?
Yes...

if the investment is made on or before june 30 2020 then it is taken into consideration for FY 2019 2020


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