ELSS last date for 2021

By what date and time we need to place order for ELSS on Coin to qualify for the FY 20-21 Tax saving? Is March 31st last date for the investment or has it been postponed like last year?

Thanks,
Neo

@San78 Can you.

@siva Let me try. Correct me if I am wrong:

31st of March is Wednesday and the market will remain open.

Usually, tax-saving investments should have the latest timestamp of 31st March. Now to get the NAV of 31st March, the latest one can place a buy order of an ELSS fund on Coin would be before 1:30 pm on 31st March so that same day NAV is realized and it is considered a valid tax saving investment for FY 20-21.

On the question whether Govt. has extended the deadline for tax saving investments to further date or not, so there is no such news, as we speak. Will Govt. extend the date further? We don’t know. In my opinion lesser chances of the same as Govt. needs funds from PPF etc investments, also economic activities are open so less chances that Govt. would extend. Let’s see.

To be on the safer side, place an ELSS order on Coin by 1:29 pm and keep enough margin in the account so same-day NAV is realized. Meanwhile, if the Govt. releases news that they are extending the deadline for tax-saving investments, like last year, you may cancel the ELSS order before 1:30 pm, in case you want to wait for the revised last date.

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Thanks for the info and advise. I think it will be great to provide a feature in coin to schedule a MF/ELSS order for a specific date. Right now we have SIP and conditional but I can’t do something like this:

Axis ELSS - growth - direct — Rs. 50,000 ---- on 1-apr-21
Mirae ELSS - growth - direct — Rs. 1,00,000 ---- on 2-apr-21

Please could you consider and evaluate this feature? Thank you.

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Just a jugaad,

If you start two SIP of Rs 50,000 and 1 Lakh starting 1 april 2021 and 2 april 2021 and once the first instalment goes through, stop the SIPs? Will it help you achieve the needful?