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Deduction under sec 80C

Kk Nair (172 Points)

09 January 2019

I have LIC policy and the premium is paid Qly. The premium for the 4th Qr is due for payment in Mar 19. How can I declare this amount to the employer without a proof now. The employer is asking declaration with proof for TDS purpose. Can I show the premium due in Mar 19 without a receipt. What is the order in such cases. Declarations are asked by employers even 6 months in advance or more for TDS purpose. Thanks in advance if respected experts could guide me.

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v k s supraja (intermediate) (216 Points)
Replied 09 January 2019

sir, you have two options:
1) You can submit premium due on march 19 also along with payment receipts for premiums paid at earlier uf your employer accepts thhe same..
2) otherwise let the employer deduct TDS without considering the last quarter premium (say due in march 19) and later on you can claim refund if any at the time of filing incom tax return by showing such premium also...

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