Regarding Insurance Premium

Tax queries 607 views 1 replies

Hello,

I have one query regarding premium.

I have taken one policy before 3 years.

At that time i paid first premium.

And for 3 years i didnt pay premium.

And this time i paid all 3 premiums with interests.

So i just want to know that can i get deduction "for only current year" or "for previous years" also.

Thanks.. in advance....

 

 

 

Replies (1)

The deduction for Life insurance premium u/s. 80C will be allowed in the year in which it is paid, irrespective the year for which it is paid.


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