NPS contribution on holiday

Tax planning 479 views 1 replies
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210 Points Joined May 2017

Dear Sir/madam 

If I make contribution in NPS on today or 30th or 31st march (all 3 days are trading holiday) can I get tax benifit on the basis of transaction receipt?

Because unit/nav will be provided by them on 1st april or later

 

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On 29 March 2025 at 09:54 Report
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Master in Accounts & high court Advocate
9016 Points Joined December 2011

Yes, you can claim tax benefits based on the transaction receipt, even if the units/NAV are allocated later.

Key Points: 1. *Contribution Date*: The contribution date is the date when the amount is deducted from your account, not the date when the units/NAV are allocated.

2. *Transaction Receipt*: The transaction receipt serves as proof of your contribution and can be used to claim tax benefits.

 3. *Tax Benefit Eligibility*: As long as the contribution is made before March 31, 2024, you are eligible for tax benefits in the financial year 2023-2024.

Supporting Reference: The Pension Fund Regulatory and Development Authority (PFRDA) has clarified that contributions made to the NPS on or before March 31, 2024, will be eligible for tax benefits, even if the units/NAV are allocated later.

 

1 Reply
On 29 March 2025 at 13:32


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