Tax benefit for the last moment investment

How do I avail tax benefit of the LIC investment I did on 31st March 2021.

Hi @Ron,

LIC investments are usually eligible for Chapter VIA deduction u/s 80C under the Old Tax Regime. When filing your ITR you can disclose the amount invested under LIC investment and adjust your total taxable income accordingly for FY 2020-21.

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Thank you @Nireka, I shall follow this.

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@Ron,

You might also find this useful, we released recently a video to help taxpayers like you plan their taxes better.

We thought this might be relevant to millions of others just like you, considering the Financial Year has just kicked off!

Happy tax planning :slight_smile:

That’s great, will watch and if any query will post it here.

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