Query on income tax deduction u/s 80d

Muthu (Private) (28 Points)

28 July 2015  

Hi

I have taken Medical Insurance policy for my Parents.

I have issued the cheque for INR 26,000 on 28-Mar-2015. The Insurance premium amount got debited from my Bank Account only on 2-Apr-2015

However, the Medical Insurance company provided the Insurance for period 28-Mar-2015 00:00:01 hrs. to 27-Mar-2016 23:59:59 hrs (cheque and document issual date)

As the Insurance Period is for period 28-Mar-2015 to 27-Mar-2016, kindly clarify if I can avail the Medical Insurance policy amount as Income Tax exemption during FY 2014-15 (AY 2015-16)  under section 80D

(Or)

As the amount got debited from my bank Account only on 2-Apr-2015, Income Tax exemption should be availed during FY 2015-16 (AY 2016-17) u/s 80D

Thanks