Insurnce premium paid by credit card on 31.03.2014

This query is : Resolved

Rahul Gupta (Querist)
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13 July 2014 I have paid insurance premium by credit card on 31.03.2014 . Credit card settlement was done on 30.04.2014.
Actually my bank was charged on 30.04.2014.

Can i claim 80C benefit for Fy 13-14.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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13 July 2014 See the date Receipt of Insurance Premium. If date is on or before 31.03.2014 only then you can claim deduction u/s 80C in the return of AY 14-15 otherwise you can not. If the date on receipt is after 31.03.2014 the you can claim the deduction in the return of AY 15-16.