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Payment made through Other then Account payee cheque of Income tax ?

19 September 2021

I made payment though Cash for Lic Policy , Medi clam policy , Donation , Home Loan's EMI etc may I allow IT deduction ? Under Chapter VI ?

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2 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160332 Points)
Replied 20 September 2021

It is specified in each sub-section, where the cash payment is disallowed like Sec. 80D for mediclaim as well as for treatment, life insurance premium u/s. 80C, donation u/s 80G, etc. etc. along with limit of any amount that can be allowed for its deduction. So you need to check each and every deduction independently.

CMA Poornima Madhava (CMA) (13097 Points)
Replied 20 September 2021

No 80d deduction (except for preventive health check up) can be claimed if paid in cash.

Deduction of interest u/s 24(b) is not linked with payment. That is, the deduction can be claimed in the basis of the liability. So may not be a problem I think.

Not sure about 80c.