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u/sec 80C of IT act

Mohan T (39 Points)

18 May 2018

interest on insurance premium deductions can allow u/ sec 80C and previous year insurance premium we can't claim on that time now we can claim please suggest me

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CA K.Srividhya (Chartered Accountant) (279 Points)
Replied 18 May 2018

Only premium paid on Insurance during the relevant year can be claimed as deduction. You cannot claim interest and also the previous year's premium paid u/s 80C.

Regards.

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RAJA P M ("Do the Right Thing...!!!") (128106 Points)
Replied 18 May 2018

Yes... I agreed to Ms K Sridivya.,

We can claim Insurance Premium paid amount u/s 80C... And only claim Same FY amount.
We can't claim previous year paid amount...

Also no way for claim insurance interest amount u/s 80C.