Payment of interest u/s 43b

Interest on LIC loan fall in

1. any sum payable by the assessee as interest on any loan or borrowing from any public finan­cial institution or a State financial corporation or a State industrial investment corporation, in accordance with the terms and conditions of the agreement governing such loan or borrowing;

therefore interest will be allowed in year in whisch it is paid and therefore it is to be reported in the tax audit report.

Interest on LIC loan fall in

1. any sum payable by the assessee as interest on any loan or borrowing from any public finan­cial institution or a State financial corporation or a State industrial investment corporation, in accordance with the terms and conditions of the agreement governing such loan or borrowing;

therefore interest will be allowed in year in whisch it is paid and therefore it is to be reported in the tax audit report.

Its allowable na as per section 43b if it is paid on or before due date of filling IT Return.

yes it is allowable if interest amount  is paid  before the on or before the due date of filing the return.