• Important tax refund query

My age is 38, I worked with a government employer  as salaried for 7 months in this financial year 2016-17, starting from April -October 2016, the rest of the period I did not get any job, and did not have any income , during the period from April to October 2016, the employer deducted Rs. 1 Lakh as my PF, so  it issued me my Form 16, in which it showed the total deductions for PF(under sec 80c), as 1 Lakh, but I had invested around 60,000, in an ELSS fund during that financial year 2016-17 itself , which comes under sec80c, now while filling online IT Return, can I show my investment in ELSS Fund apart from my 1 Lakh investment in PF so that I could get tax rebate of Rs.1.5 Lakh, which I previously had got for RS.1 lakh, as given by my employer?? After doing this, will  I get a refund from the IT Dept because previously the tax was deducted taking investment under section 80c only as Rs. 1 Lac, and now I want to get exemption for 1.5 Lakh??? Plz advice, Thankyou
Asked 8 years ago in Income Tax

Yes, you claim the deduction while filing your returns and will be elligible for the due refund.

Rohit R Sharma
CA, Mumbai
2104 Answers
95 Consultations

Hi,

Yes you can invest in ELSS and claim deduction.

Regards,

Keerthiga Padmanabhan

M.Com, CA, LL.B,

Keerthiga Padmanabhan
CA, Greater Mumbai
784 Answers
27 Consultations

Hi,

Yes, you can put the details of additional investment in your return of income and you will be able to claim 1.5 lacs as deduction.

Please feel free to email us at , if you wish to avail our services for return filing.

Thanks and regards

Abhishek Dugar

CA CS B.Com

Abhishek Dugar
CA, Mumbai
3576 Answers
183 Consultations

Yes you can claim additional deduction claim if you have supporting evidences of the same

In given case you have elss saving documents then you must have to claim and got refund this is your right

Lalit Bansal
CA, Delhi
776 Answers
61 Consultations

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