Deduction in respect of life insurance premium paid

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 January 2018 Hello Sir/Madam,

If I pay life insurance premium in March 2018, can I avail the deduction u/s 80C of the Income Tax Act in FY 2018-19 instead of FY 2017-18?

Thanks.

Expert : Anonymous

Expert : Anonymous (Expert)

20 January 2018 Receipt date is after 1st April 2018 then you can claim FY 18-19

By RAJA P M

RAJA P M

RAJA P M (Expert)
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20 January 2018 Receipt date is after 1st April 2018 then you can claim FY 18-19

By RAJA P M

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Querist : Anonymous

Querist : Anonymous (Querist)

24 January 2018 Thank you very much.
Suppose the receipt date fall in March 2018 (FY 2017-18) but I am unable to claim it in FY 2017-18.
Can I claim it in FY 2018-19?

RAJA P M

RAJA P M (Expert)
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24 January 2018 No....
We can't claim after the FY if receipt date is previous FY...

Querist : Anonymous

Querist : Anonymous (Querist)

25 January 2018 Thank you very much, again!