Hi,
if i will pay Lic premium which due on 28th March after 1st April, then in which year i can claim for deduction?
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Lic premium
Replies (6)
In the year of payment
Deduction is available in the year of payment only.
However, If you pay the same thru credit card upto 31 March 16, you can claim the deduction in this year only and cash outflow from your pocket will be in april.
Thanks
In the year of payment only.
In the FY of payment only.Now the payment of premium is also permitted by LIC within one month of due date only.
In the FY of payment only.Now the payment of premium is also permitted by LIC within one month of due date only.
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