Life Insurance Premium IT return deduction

Samir (Business owner) (22 Points)

06 June 2022

If I pay Life Insurance Premium of 2021 in June 2022 can I calim that in ITR of 2021 /22

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5 Replies

CA Rashmi Gandhi (Chartered Accountant) (86313 Points)
Replied 06 June 2022

Yes you can claim deduction as per payment

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Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 06 June 2022

It can be considered in ITR of AY-2022-23

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Kesavaraj S (578 Points)
Replied 07 June 2022

If it is delayed payment of instalment, it is not allowed...

sabyasachi mukherjee (27354 Points)
Replied 14 June 2022

Chapter via deduction.

Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 14 June 2022

LIC deduction is allowed based on payment basis

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