Can I claim deductions on investments, insurance etc. purchased after end of financial year?

Hi,

I am a new tax payer and unfortunately I have not been able to acquire investments, insurance etc. which allow me to claim deductions on them during the financial year (due to my busy schedule), so I want to know if I purchase these things after the financial year (i.e after 31st of match), can I claim those under deductions in the assessing year?

Thank you

Replies (2)
Quick Summary
This discussion addresses whether tax deductions can be claimed for investments, insurance, or other expenses purchased after the end of the financial year (31st March). Generally, deductions under sections 80C to 80U cannot be claimed for purchases made after the financial year has closed. However, some specific claims like LTA/LTC might be permissible under Section 10 even after the year-end, and certain capital gains deductions may be available subject to conditions.

No it should be due in the previous year
LTA/LTC can be claimed under section 10 even after FY and deductions under section 80C to 80U can't be claimed..

Let me know your source of income ..

If it is capital gain then you may avail few deductions for even after financial year or before financial year subject to conditions

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