I cancelled my ULIP which I declared for tax saving, Now what ?

POSTED BY 2007amit.goyal@gmail.com ON March 13, 2014 3:28 pm COMMENTS (2)

Hi

I have already submitted investment proof  for year 2013-14 to my employer for ULIP of HDFC.

I now cancelled it during the free lookup period of 15 days. And thinking of making another investment before 31st Mar. But the deadline to submit tax proofs at my company is already expired. What are the options that i have in this regards. Please suggest.

2 replies on this article “I cancelled my ULIP which I declared for tax saving, Now what ?”

  1. ashalanshu says:

    Dear Amit, in your case, only the investment instrument ‘ll change say PPF or VPF or ELSS or Tax saver FD, so it does not matter that you declare ULIP to you employer, and finally the money is in some other tax saving instrument.

    Thanks

    Ashal

  2. curiousraj says:

    It is not a big issue. Many times me too have declared something and at the time of producing original documents changed whole details.

    You can get refund once you file ITR in July. But all investment should be made before 31st march.

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