If you were fortunate and also had other investments like EPF which are eligible for 80C benefit last year, then the calculation would be:\u00a0Additional income to be added = Rs 1.5 Lakh \u2013 EPF in that financial year<\/strong><\/p>\nSo even though benefits u\/s 80C weren’t claimed in the return filed, you can still reduce the tax benefit reversal only to the extent of the gap between the other 80C investments and the premium amount claimed.<\/p>\n
You should therefore keep investment proofs with you until the tax reversal period expires.<\/p>\n","protected":false},"excerpt":{"rendered":"
In a rush to save tax, many people rush to to invest in anything that lowers their tax liability. But as always you should be careful in choosing what you invest in as this can not only be a dud investment but also increase your tax liability in future. Not many would be aware but […]<\/p>\n","protected":false},"author":1,"featured_media":7921,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[3013,63,6],"tags":[3060],"uagb_featured_image_src":{"full":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2016\/12\/When-and-How-can-Tax-Benefits-Claimed-Earlier-be-Reversed.png",995,551,false],"thumbnail":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2016\/12\/When-and-How-can-Tax-Benefits-Claimed-Earlier-be-Reversed-150x150.png",150,150,true],"medium":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2016\/12\/When-and-How-can-Tax-Benefits-Claimed-Earlier-be-Reversed-300x166.png",300,166,true],"medium_large":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2016\/12\/When-and-How-can-Tax-Benefits-Claimed-Earlier-be-Reversed-768x425.png",768,425,true],"large":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2016\/12\/When-and-How-can-Tax-Benefits-Claimed-Earlier-be-Reversed.png",995,551,false],"1536x1536":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2016\/12\/When-and-How-can-Tax-Benefits-Claimed-Earlier-be-Reversed.png",995,551,false],"2048x2048":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2016\/12\/When-and-How-can-Tax-Benefits-Claimed-Earlier-be-Reversed.png",995,551,false],"yarpp-thumbnail":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2016\/12\/When-and-How-can-Tax-Benefits-Claimed-Earlier-be-Reversed.png",120,66,false]},"uagb_author_info":{"display_name":"Amit","author_link":"https:\/\/www.apnaplan.com\/author\/admin\/"},"uagb_comment_info":2,"uagb_excerpt":"In a rush to save tax, many people rush to to invest in anything that lowers their tax liability. But as always you should be careful in choosing what you invest in as this can not only be a dud investment but also increase your tax liability in future. Not many would be aware but…","_links":{"self":[{"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/posts\/7447"}],"collection":[{"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/comments?post=7447"}],"version-history":[{"count":0,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/posts\/7447\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/media\/7921"}],"wp:attachment":[{"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/media?parent=7447"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/categories?post=7447"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/tags?post=7447"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}