Regarding payment of lic premium

Tax planning 347 views 4 replies
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Senior Manager - Finance & Accounts
42 Points Joined October 2011

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

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On 15 January 2018 at 10:15 Report
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Student CA IPC / IPCC
22 Points Joined April 2013
yes you can consider the LIC premium paid during 1-4-17 to 31-3-18..
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On 15 January 2018 at 10:48
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132 Points Joined December 2017
you can claim the actual amount paid during the relevant financial year
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On 15 January 2018 at 13:50
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Senior Manager - Finance & Accounts
42 Points Joined October 2011

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

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On 18 January 2018 at 18:10
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CA CS
703 Points Joined February 2012

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

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On 19 January 2018 at 18:16


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