New Tax reductions Announcements in Feb2020 Budget will apply for FY2019-20 (AY2020-21) IT return?

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Present 80C Investment limit is Rs 1,50,000 . Senior citizen Tax is exemption up to Rs 3 lakhs income 

80TTB reduction is Rs 50000 for seniors from Interest income.

Any new scheme with additional OR reduction in benefits will apply for this tax year FY2019-20 ?

Can we invest Rs 1.5 lakhs in 80C (eiether in SCSS or 5 year tax FD ) up to March 31st 2020 to be eligible for 80C deduction for this tax year FY2019-20 ?

Replies (1)
FY 2019-2020 benefits are as per budget provisions (Finance Act) of ,Feb 2019 & July 2019 budgets.

Feb 2020 budget announcement will apply for FY 2020-2021 (AY 2021-2022) ITR


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