Hi,
if i will pay Lic premium which due on 28th March after 1st April, then in which year i can claim for deduction?
Nilesh More (Executive) (72 Points)
28 March 2016Hi,
if i will pay Lic premium which due on 28th March after 1st April, then in which year i can claim for deduction?
Sandeep Garg
(Consolidation and IndAS Application)
(1056 Points)
Replied 28 March 2016
Deduction is available in the year of payment only.
However, If you pay the same thru credit card upto 31 March 16, you can claim the deduction in this year only and cash outflow from your pocket will be in april.
savin
(officer)
(37 Points)
Replied 29 March 2016
savin
(officer)
(37 Points)
Replied 29 March 2016
CAclubindia
