Mutual fund investment made on 31march 22 evening for 80c

Assessee made payment for mutual fund investment on 31-3-2022 evening. But the company took the transaction date 1-4-22. What is his position? Can we use the investment for 80c for assessment year 22-23?

Replies (3)
Quick Summary
If you made a mutual fund investment payment on the evening of 31st March 2022, but the company recorded it as 1st April 2022, you can still claim the deduction for Section 80C for the assessment year 2022-23. This is permissible if your bank statement confirms the payment was made on 31st March 2022. However, payments made after business hours on 31st March are typically considered as processed on the next working day.

Yes, You can take deduction If your funds are deducted on 31-03-2022 & your bank statement clearly reflects that Payment is done from yourside.

Thank you so much sir...

If payment done after working hours, it is not accepted. Next working day is considered.

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