An individual assessee purchased a (1year) health policy covered under section 80D and paid the amount via credit card on EMI basis starting from Nov 2018 ending on Oct 2019?
Now whether whole amount is allowed in FY ending on 31/03/2019.
Or
Partly allowed in F.Y 2019 and partly in 2020.
Or whole amount is allowed in F.Y. 2020 when full payment is done.
Kindly advice as per law /Industrial practice .
Remember :-
As per 80D "appropriate fraction" concept is there which is only relevant for policies for more than 1 year which is not our case.
Our policy is only for 1 year but it stipulated to next year.
As the deduction is for the premium paid, any premium paid in the FY can only be claimed as deduction.
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