02 April 2012
I have taken Housing Loan with DHFL fin. Ltd. Along with that loan they have given me General Insurance & taken premium of morethan one lac rupees & given me mediclaim & home Insurance for 5 yrs. My question is Of this 1 lac rupees premium which is paid for 5 yrs i.e. FY 2011 -2015. how much amount should I claim for deduction U/s 80-D. Can I claim in 5 yrs equally 20%of premium? or just for 1 year 15000/- & rest to forget?
02 April 2012
Section 80D on payment basis. so payment made during the previous year only allowed even paid for future year also. so maximum Rs.15000 allowed this year.balance cannot claim this year and coming year as well