RBI has extended FY 2019-20 upto 30th June 2020 in view of the situation arising out of Covid-19 in the country,
I am a resident senior citizen whose annual income is from monthly pension and bank interest.
To calculate income tax for FY 2019-20 (corresponding to AY 2020-21), should I take into account pension received from April 2019 to June 2020 and also interest paid by bank during the entire 15-month period?
I request experts to clarify.
Thank you for clarification.
I understand that it has nothing to do with tax payers' calendar.
Income period for tax calculation for FY 2019-20 remains the same as April 2019-March 2020.
Deadline to make investment under Sec 80C: 31st March 2020
Last date for filing tax return: 31 July 2020
Please confirm.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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