Tax-Saving Deadline for FY 2019-20 extended to June 30, 2020


On 24th March 2020 the Finance Minister of India announced that tax payers will have until June 30, 2020 to make their tax saving investments eg those under section 80C (instead of the usual March 31, 2020).

This announcement was made as part of relief measures on account of the disruption caused by the COVID-19 outbreak.

Here is the relevant text from the press release:

Due dates for issue of notice, intimation, notification, approval order, sanction order, filing of appeal, furnishing of return, statements, applications, reports, any other documents and time limit for completion of proceedings by the authority and any compliance by the taxpayer including investment in saving instruments or investments for roll over benefit of capital gains under Income Tax Act, Wealth Tax Act, Prohibition of Benami Property Transaction Act, Black Money Act, STT law, CTT Law, Equalization Levy law, Vivad Se Vishwas law where the time limit is expiring between 20th March 2020 to 29th June 2020 shall be extended to 30th June 2020. (emphasis added)

So any tax saving investments (eg ELSS, PPF etc) made from 1st April 2020 to 30th June 2020 can be claimed for tax deduction for either FY 2019-20 or for FY 2020-21 (but not for both obviously).

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