Your clients have one more day to invest in tax saving vehicles such as ELSS, ULIPs and health insurance policies to avail the benefits of 80C and 80D for FY 2019-20.
Usually March 31 is the last day to make tax-saving investments to claim benefits under Section 80C, 80D, 80G and so on. However, this year it was different due to the disruption caused by the Covid-19 pandemic.
As a result, earlier in March this year, the Ministry of Finance had given a three month extension to make various investments and payments for claiming deduction under section 80C (LIC, PPF, NSC etc.), 80D (Mediclaim) and 80G (Donations). In the last week of June, this was again extended by one month till the end of July
Therefore, if your clients have not made enough tax-saving investments for FY19-20 yet, you still have the opportunity to do so by July 31.
