A query was raised regarding the correct way to enter life insurance premium payments for the 80C deduction, especially for clients paying monthly. The question was whether to make 12 separate entries or a single consolidated entry. The suggested solution is to make a single entry in March, reflecting the total annual premium paid.
I have one doubt about deduction taken under section 80C. from this year onwards it's compulsory to show all details for section 80C. so question is that when we enter the life insurance policy premium payment details then we have to enter payment date also. Question arising now that if client has monthly premium payment mode then we have to do 12 separate entries for all payment or single entry to do?