Regarding payment of lic premium

Tax planning 477 views 4 replies

Sir,

 

I have paid the LIC premium on 01-04-2017 which the premium is due in the month of Jan.'2017.  Can I take it in 80C deduction for the FY 2017-18 (AY 2018-19). I have alo paid the current year premium of the same Policy in Jan.'18. Can I claim both in the present FY 2017-18 under 80 C Deductions.  Please guide me.

 

Thanks

S Karthik

Replies (4)
yes you can consider the LIC premium paid during 1-4-17 to 31-3-18..
you can claim the actual amount paid during the relevant financial year

Thank you very much Mr. Dilip and Mr. Jenil Shah for your response.

The actual amount of premium paid is to be considered for claiming deduction.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 12 March 2026
Customer Relationship Executive

TAXLET

Calicut

B.Com

View Details
Company
Featured 14 March 2026
Article Trainee

N N V Satish&co

Hyderabad

CA Inter

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details