InvestorQ : Can I make an investment for tax exemption even after the month of March-2020?
krithika Saxena made post

Can I make an investment for tax exemption even after the month of March-2020?

Answer
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Anisha Awate answered.
5 months ago


Well, considering the circumstances and present pandemic situation, the government was of the view that this might restrain the investors from making an investment for tax exemption, due to liquidity requirements by most of the individuals. Therefore, keeping this in mind, it has announced that the taxpayers can now make their tax-exemption investments up to 30th June 2020.
Originally, the deadline for making any tax-saving investment is March 31st of every financial year. The said notification reads as follows “due dates for issue of notice, intimation, approval order, sanction order, notification, furnishing of returns, filing of the appeal, statements, reports, applications and any other documents and time limit for completion of proceedings by the authority and any other compliance by the taxpayer, including investment in saving instruments or investments for rollover benefits of Capital gains under the Income Tax Act, Wealth Tax Act, Prohibition of Benami Property Transaction Act, Black Money Act, STT Law, CTT Law, etc.where the time limit is expiring between 20th March 2020 to 29th June 2020 shall be extended to 30th June 2020.