Last-Minute ELSS Investment? Here’s How to Claim It in ITR and Avoid Rejection

Why This Is Trending:
Many taxpayers invest in ELSS mutual funds right at the end of March to claim 80C deductions — but if you don’t document it properly, your claim can get rejected during processing or scrutiny.

Here’s how to claim it the right way in ITR and keep your refund safe.

---

1. What Is ELSS and Why It’s Popular?

• Equity Linked Saving Schemes (ELSS) are mutual funds eligible for Section 80C deduction
• You can claim up to ₹1.5 lakh invested in a financial year
• Lock-in: 3 years
• Best suited for salaried & self-employed looking for tax + growth

---

2. ELSS Payment Cut-Off for FY 2024-25

• Invest by March 31, 2025 to claim in ITR filed for AY 2025-26
• Even investments made on March 30/31 via UPI/Netbanking are valid — if processed successfully

---

3. Documents Needed for Claim

• Mutual fund account statement
• Folio details + AMC name
• Payment confirmation screenshot (optional)
• Keep PAN mapped folio for 26AS/AIS matching (some AMCs report to ITD)

---

4. Where to Claim ELSS in ITR

• Section 80C → Life Insurance, PPF, ELSS
• Enter amount invested under “Deduction Under Chapter VI-A”
• Use ITR-1 or ITR-2 (most salaried users)

---

5. Common Mistakes to Avoid

• Claiming SIPs where only first installment is in FY
• Not saving fund statement
• Investing on March 31 evening and missing payment clearance
• Selecting wrong deduction section in ITR (e.g. 80CC instead of 80C)