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Extension of FY 2019-20.

joydeb pal (kolkata) (55 Points)

30 March 2020

Whether FY 2019-20 has been extended upto 30th June?

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9 Replies

RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 30 March 2020

No...
The FY not extending to Jun-2020...
Some of due dates are extended to 30th Jun-2020.
FY 19-20 is same period as Apr-19 to Mar -20.

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joydeb pal (kolkata) (55 Points)
Replied 30 March 2020

Thank you.

RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 30 March 2020

You are welcome

CA ARPIT BANGA (job ) (376 Points)
Replied 30 March 2020

No
The beginning of the fiscal year (2020-21) would begin normally on April 1

Vishal Goel (Chartered Accountant) (1693 Points)
Replied 31 March 2020

Hello,

FY 2019-20 is ending on 31 March 2020 as scheduled. Next FY, Fy 2020-21, starts from 1st April 2020. No change in this.

For the purpose of tax savings (80C, 80D), one had a complete investment in ELSS, Life Insurance etc till 31 March 2020. This date is extended to 30 June 2020.

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Ravindar (am) (13 Points)
Replied 31 March 2020

If I invest on 1st April, 2020, shall I able to claim for FY 2020-21?

RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 31 March 2020

Yes... You can claim deduction as per Your question.
But, the dues will fall on or before 31st Mar-20 only...

For ex :
If Your march month's LIC due is 30th Mar-20.
But, in current situation You are not paid it on or before 30th Mar-20. The said due can be pay on or before 30th Jun-2020 and You can claim deduction in FY 19-20 ITR.