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
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Is ELSS saving ( apr-june2020) is also claim for deduction in year 2019-2020
Replies (4)
Quick Summary
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
Thanks for your comments,
You are most welcome.
Regards
Sujit Talukder
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.
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.
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