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

happyvalley blooms (58 Points)

16 December 2019  

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 ?