The Assessee had applied for a Life Insurance Policy in March and made the payment on 28.03.2018. But because of the agent’s irresponsibility there was a delay in the issuance of policy, accordingly the commencement date of the policy is 07.05.2018. So now can the assessee consider the payment date and claim the deduction u/s 80C for the A.Y 2018-2019 or should consider the issuance date and claim in A.Y 2019-2020 ..?
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Deduction u/s 80c
Replies (4)
it will be eligible for deduction in a.y. 2019-20 only
Thank You Sir, but May I know any supporting evidence for this like any particular chapter to go through..?!
no specific evidence required.. just keep the premium paid receipt to furnish before AO when required
Sir but the Bare Act says as per payment date, what do you say for this?!
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