14 March 2019
Sir, My client is asking me to tell him the amount of insurance premium he has to pay to get 80C deduction. Doesnt it depend on the policy? Also is deduction available on payment basis ie,if paid in april 2019 is the deduction available for nxt year only incase of ppf and insurance premium?
15 March 2019
Yes, most of the 80 Deductions are based on the payment year basis. So to take it as Deduction for FY 2018-19 then it should be paid on or before 31st March of 2019.
CAclubindia
