Deduction U/s.80C
This query is : Resolved
11 September 2008
In the payment of Insurence First Premium made on 28.03.2008 by cheque which is realised on that date.
But the Insurence cover & Policy issued on and from 30.04.2008.
If we taken into account, the premium for deduction u/s.80C for Asst.Year 2008-09 or 2009-10.
pls, clarify.
But the Insurence cover & Policy issued on and from 30.04.2008.
If we taken into account, the premium for deduction u/s.80C for Asst.Year 2008-09 or 2009-10.
pls, clarify.
Late CA Sampat Jain
(Expert)
11 September 2008
Asst.Year 2008-09
Vikas Mehta
(Expert)
11 September 2008
One can get the deduction in the asst. year 2008-09.
Because you can take the deduction after realisation of the cheque and it is realiesed in the year 2007-08.
Because you can take the deduction after realisation of the cheque and it is realiesed in the year 2007-08.
Late CA Sampat Jain
(Expert)
11 September 2008
BECAUSE PREMIUM PAID TO EFFECT OR TO KEEP IN FORCE A LIFE INSURANCE IS ALLOWABLE
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