26 July 2014
Payment of Life Insurance premium after 31st march with late fee which relates to 2013-14:- Can we take deduction of this amount under 80C?
26 July 2014
Yes you can claim the deduction but the deduction will b available in respect of year in which payment is made. Say premium of FY 2013-14 paid in FY 2014-15. So deduction can be claimed in the return of FY 2014-15 i.e., AY 2015-16.
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