Last-Minute Tax-Saving Tips if You Haven’t Invested Yet

Key Highlights

• Missed 31 March investments? You can still file your ITR till 31 July or extended date
• Claim deductions made before 31 March, even if filing in July
• Learn what cannot be claimed now and how to plan for FY 2025–26
• Quick comparison of 80C, 80D, and 24(b) deductions
• Get CA-assisted ITR filing via udChalo’s expert plans

Urgent Tax Saving Before ITR Filing for Defence Personnel and Families

Tax season always seems far away until it is right around the corner.

If you are in the armed forces, juggling duties, field postings, and family needs, it is understandable to miss key tax-saving dates. But even now, in mid-June 2025, you still have time to reduce your tax stress if you act fast.

This guide breaks down what can still be done, what cannot, and what to fix for next year. Whether you are a serving soldier, a defence spouse managing finances, or a retired veteran, here is everything you need to know about saving tax even at the eleventh hour.

Why the March 31 Deadline is Critical

The 31 March date is important for one major reason—it marks the end of the financial year. To claim tax-saving deductions under sections like 80C (investments), 80D (insurance), and 80CCD (NPS), you must complete your transactions before or on 31 March.

If you missed this, you cannot go back and invest now for FY 2024–25. But you can still file your return.

What If You Missed the March 31 Investment Deadline?

We are now in mid-June 2025, and the Income Tax Return (ITR) filing season is open.

• ITR Filing Deadline: 31 July 2025
• Extended Deadline (if applicable): Up to 15 September 2025

So What Can You Do Now?

You can:

• File your ITR accurately for FY 2024–25
• Claim deductions only if your investments or payments were made before 31 March 2025

You cannot:

• Make new investments now and claim them in this year's return
• Backdate investments to show earlier payments (not permitted legally)

Corrective Action: Start Early for FY 2025–26

If you missed the tax-saving train this time, it is not the end. This is the right time to plan for FY 2025–26, and avoid the last-minute scramble next year.

A Smart Tax-Saving Calendar

Tip: Use reminders every 3 months to check your tax-saving progress

Trick: Choose automatic deductions like SIPs and NPS auto-debit to avoid missing deadlines

Quick Investments That Helped Save Tax Before 31 March

If you did manage any of the following before 31 March, remember to include them in your ITR:

1. ELSS Funds (Equity Linked Saving Schemes)

Term Life Insurance

• Premium qualifies under Section 80C
• Can be bought online in minutes
• Defence personnel often get discounted premiums

PPF or 5-Year Tax Saver FDs

• PPF offers tax-free returns and long-term benefits
• Tax-saving FDs are safer but returns are taxable

Key Deductions Defence Personnel & Veterans Can Still Claim

Defence Services Officers Provident Fund (DSOPF)

DSOPF is a long-term savings scheme for commissioned officers in the Armed Forces. A portion of your salary is deducted and added to this fund. It qualifies for tax deduction under Section 80C, up to ₹1.5 lakh.

A DSOPF statement is an annual summary showing how much you contributed during the financial year. It is usually provided by your unit accounts office or available through your pay system.

Make sure to request or download this statement to claim DSOPF deductions.

Army Group Insurance Fund (AGIF)

AGIF is a welfare scheme offering life insurance and other benefits to defence personnel. Monthly premiums are deducted automatically. These premiums are also eligible under Section 80C.

You can ask your unit or AGIF office for a premium certificate for FY 2024–25. This will serve as your investment proof while filing the return.

National Pension System (NPS)

NPS is a government-backed pension scheme. If you are contributing voluntarily — either as a serving personnel, a veteran, or spouse — your contributions can be claimed under:

• Section 80C – up to ₹1.5 lakh
• Section 80CCD(1B) – additional ₹50,000

You can log in to the CRA-NSDL portal (Central Recordkeeping Agency) and download your transaction statement for the year. This is essential proof for your ITR.

Tuition Fees for Children

If you paid fees for your child’s school or college (full-time education), you can claim it under Section 80C, up to ₹1.5 lakh (within the overall limit).

Ensure the payment was made before 31 March. Keep fee receipts that mention the institution name, student’s name, and payment date.

Health Insurance Premiums (Section 80D)

Keep payment receipts or bank statements as proof. Even premiums paid for dependent parents are allowed.

Forgot Proof? You May Still Be Able to Claim

Sometimes, investments or payments were made but the proof was not submitted or declared earlier. Here are common ones:

• LIC or private life insurance policies
• Rent paid for private accommodation
• Donations to relief funds
• Education loans (interest payments under Section 80E)
• Home loan interest and principal

Search your bank statements, SMS alerts, or emails for transactions between 1 April 2024 and 31 March 2025.

Important for Defence Families: How to Handle Tax When Posted, Retired or Remote

Rent & HRA

If you are serving and receiving HRA, rent paid for family housing can be claimed. Ensure rent receipts are dated before 31 March.

If you are retired and renting, HRA cannot be claimed, but other deductions like standard deduction or home loan interest apply.

Joint Home Loan Deductions

If you and your spouse are co-owners and co-borrowers:

• Both can claim ₹2 lakh interest deduction under Section 24(b)
• Both can claim principal under Section 80C (subject to total ₹1.5 lakh limit)

Need Help with Filing? Choose udChalo CA-Assisted Services

Do not risk mistakes while filing your return. Get help from tax professionals who understand the needs of defence families.

Use udChalo’s Tax Filing Services:

• CA-supported ITR filing
• Advice on which deductions to claim
• Hassle-free digital process
• Tailored plans for active soldiers, veterans, and dependants

Explore Filing Plans

Glossary of Tax Terms

File Smart, Plan Ahead

If you missed investing before 31 March 2025, do not panic. You can still file your return and claim eligible deductions made before that date.

Going forward, start early for FY 2025–26. Spread your investments, avoid last-minute decisions, and use trusted help.

Explore CA-assisted tax filing now with udChalo’s Tax Services and take the stress out of tax season.

FAQs

1. Is pension received by retired defence personnel taxable?
Commuted pension is exempt. Uncommuted pension is taxable, but standard deductions apply.

2. Can I file ITR now even if I forgot to invest before 31 March?
Yes, you can file your ITR till 31 July, but only claim deductions for investments made before 31 March.

3. What if I buy insurance or ELSS now in June 2025?
You cannot claim them in your return for FY 2024–25, but they will be valid for FY 2025–26.

4. Who can use udChalo’s tax filing support?
Serving soldiers, retired personnel, dependants, and even civilians can use the platform.

5. Can I claim rent paid at my native place while posted elsewhere?
Yes, if it is a genuine rental arrangement with valid proof.

6. Is NPS better than ELSS?
Both serve different purposes. NPS offers pension benefits and extra ₹50,000 deduction. ELSS offers higher return potential with a 3-year lock-in.

7. I paid a premium for my parents’ insurance. Can I claim it?
Yes, if they are dependent and the policy was bought in your name.

8. Can I claim LTA or medical reimbursements now?
Only if your employer has a system to accept past bills and you have valid proof.

9. What should I do now to avoid this problem next year?
Start monthly SIPs in ELSS, invest in NPS, and set reminders every quarter. Begin early to avoid last-minute stress.

10. How does udChalo help soldiers with taxes?
They offer CA-assisted ITR filing, help you discover all eligible deductions, and make the process simple for those on the move.