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Is ELSS saving ( apr-june2020) is also claim for deduction in year 2019-2020

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amit kumar

39 Points Posted on 18 April 2020

The government has extended the last date for tax saving for FY2019-20 from March 31, 2020 to June 30, 2020.

it is applicable for
Section 80C (LIC, PPF, NSC etc.), 80D (Mediclaim), 80G (Donations), etc. has been extended to 30 June 2020. Hence the investment/payment can be made up to 30 June 2020 for claiming the deduction under these sections for FY 2019-20.

or ELSS savings also fall under this???
please clear with comments

Replies (4)

Quick Summary

The government extended the deadline for tax-saving investments for the financial year 2019-20 to June 30, 2020. This extension applies to various sections, including Section 80C. Therefore, investments made in ELSS (Equity Linked Savings Scheme) up to June 30, 2020, can be claimed for deductions in the financial year 2019-20.

Sujit Talukder

service

493 Points Posted on 19 April 2020

As per section 3(1) of the Taxation and Other Laws commencement. (Relaxation of Certain Provisions) Ordinance, 2020, the due date to make investments, deposits, etc under any provisions of Chapter VI-A Part-B is extended to June 30, 2020 for claiming a deduction for the FY 2019-20.

Part-B of Chapter VI-A includes section 80C and the deduction for investment in ELSS is governed by section 80C.

Hence, as per your query, you can invest in ELSS till June 30, 2020 for claiming deduction in FY 2019-20.

Read more at: https://www.taxcorner.co.in/2020/04/analysis-of-new-extended-due-dates-for-compliances-and-investments-under-taxation-and-other-laws-relaxation-of-certain-provisions-ordinance-2020.H T M L

amit kumar

39 Points Posted on 19 April 2020

Thanks for your comments,

Sujit Talukder

service

493 Points Posted on 19 April 2020

You are most welcome.

Regards

Sujit Talukder

Shivam RC

Student

7666 Points Posted on 20 April 2020

Yes....

The Investment time frame for claiming deductions for FY 2018-19 regarding all the Tax Savings Instruments as mentioned under Section 80C of CHAPTER VIA of the Income Tax Act 1961 has been extended to 30.06.2020.