Filing additional tax beneficial investments

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Filing additional tax beneficial investments

I have already submitted my investment proofs with my company HR, and they will forward it to you for further processing. My question is, is it possible to invest some more beneficial items like Fixed deposit or PPF etc. within this financial year and can I file those items with your help? Please mention whether you may charge any amount for it? if so, how much?

Profile photo of Karthik R Asked By: Karthik 5 replies 5 helpful answers Last Updated: 6 months ago
  • Profile photo of Karthik RKarthik
    Participant

    I have already submitted my investment proofs with my company HR, and they will forward it to you for further processing. My question is, is it possible to invest some more beneficial items like Fixed deposit or PPF etc. within this financial year and can I file those items with your help? Please mention whether you may charge any amount for it? if so, how much?

  • Dear Karthik, You can invest amount in PPF and Tax saving FD under section 80C upto 150000. You can take the benefit at the time of fling your tax return.

    • Profile photo of Karthik RKarthik
      Participant

      Thanks Memon. But my question is, I have already submitted the proofs of investments to my company. How I can add the other investments within this fin year? Do I need to approach any Financial experts offline, or is it possible with H&R Team?

  • Profile photo of Sachin AroraSachin Arora
    Participant

    Yes, you can submit the investment proof to your company HR to consider. In case the cut-off date is gone in your company, then in this case you need to calculate the same while filling up the ITR for yourself or share info with CA or HR Block team for ITR calculation.

    Also PPF, & tax saving FD’s interest will be part of 80C – so if your limit of 150000/- is completed then there is nothing you get benefit out of it else you can get a refund for part of extra tax paid by you.

    it is always good to declare all investment even if does not help you to save taxes… hope this helps.

    • Profile photo of Karthik RKarthik
      Participant

      Got the clear idea now. Thanks a lot Sachin. 🙂

      • Profile photo of Rahul KohliRahul Kohli
        Participant

        You can also look at NPS which will give you an additional benefit of Rs 50,000 in terms on tax deduction. Your total tax saving investment can then shoot up to Rs 200,000 from Rs 150,000. However you need to make this investment by March 31st to claim in in your tax returns while filing taxes.

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