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Deduction U/s 80C

Amol Pawar (Accountant) (99 Points)

07 April 2020

My LIC policy was due on 22/03/2020. But it has paid on 07/04/2020 due to korona lockdown. My query is that can I claim this deduction for the FY 2019 - 20?

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Mandakulathur Ananthanarayanan (186 Points)
Replied 07 April 2020

Yes. The deadline has been extended to June 30, 2020 for FY 2019-20 investments in view of COVID - 19. So, you can claim the premium paid in April for FY 2019-20 itself.

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RAJA P M ("Do the Right Thing...!!!") (127133 Points)
Replied 07 April 2020

@ Mr Amol Pawar.,

Yes... You can claim deduction in FY 19-20 for the LIC due paid on 07/04/2020...
Bcoz, the investments due date extended from 31st Mar-20 to 30th Jun-2020 by CBDT.

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