04 March 2017
Hello, I am making a premium payment on health insurance on 5-Mar-2017. I pay premium of Rs.13000/- for 3 years i.e. 2017-2018 to 2019-2020. Can I claim the insurance premium (Rs.13000) under 80D next year (2017-2018) or any one of the future three years. regards, Solomon.
04 March 2017
Deduction for health insurance premium under section 80D of the Income Tax Act, 1961 is allowed only in the year of payment. So the deduction is allowed only for the financial year 2016-17.
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