As the payment has been made before 31.03.2019 and if the verification results will be positive then it will be allowed.
Last date for making tax benefit investments
Hi I have purchased a ULIP Plan (HDFC Click 2 Wealth) and made payment on 27th March 2019. I had submitted the documents and it is under the process of verification. I have received the payment receipt as well. Now, I am being told the entire verification process can take 7 working days. By that time, it will go beyond March 31st. My question is since I have paid on 27th March, can I avail of tax benefit this financial year even if the completion and delivery of policy happens after 31st March? Best Regards, Pritam Thakur
Asked 6 years ago in Income Tax
Hi Pritam,
Hope you are doing well !!
Yes, you can avail the tax benefit on the same in this FY.
Thank you very much. There will be no problem even if the verification happens in April?
Asked 6 years ago
Yes,there will be no problem even if the verification happens in April
Document date should be of March date i.e. payment date
Dear Sir,
Yes, you can claim tax benefit this financial year provided you have sufficient proof of payment made on 27th march.
No problem subject to proper documentation.
Yes u can avail the deduction. This is investment made during the year, thou docs are processed later
Hi Pritam
Since you have received the payment receipt, deduction shall be available for FY 18-19 only. All such investment based deductions are on payment basis.
No, there would be no issue if verification happens later in April. The tax benefit shall be available for FY 18-19.
Yes you can do it since the payment was made in March but if it is not verified then you will have to revise your income tax return and pay tax along with interest so just keep that in mind.
Or you can pay the tax now and in future claim refund by revising return.
Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.
Thank you
Hi
Yes ,tax benefit can be claimed in this year itself(2018-19)
Verification done in April will not effect it.
Hope it helps
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