taxpayers have time till July 31 to complete their tax-saving exercise for FY2019-20. The earlier deadline was June 30, 2020.
In the wake of coronavirus outbreak in the country, the Central Board of Direct Taxes today extended time limit for making various investments and claiming deductions.The investments qualifying for tax deduction include deposits in mutual fund ELSS, PPF, NSC, LIC premium, SSY, NPS subscription, health insurance payments and others."The date for making various investment/ payment for claiming deduction under Chapter-VIA-B of the IT Act which includes section 80C (LIC, PPF, NSC etc.), 80D (Mediclaim), 80G (Donations) etc.