Section 80D Deduction for Advance Payment of Medical Insurance

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  1. Kalpesh Shah

    Kalpesh Shah New Member

    If a person makes the remittance of Insurance premium for the two financial year ie forthe F.Y 2015-16 and F.Y 2016-17 in advance in the F.Y 2015-16.
    Can deduction be taken in two financila year by taking equal amount in each financial year or single amount in the year in which payment has been made.

    For Example : Mr A has made the payment of Rs 30,000/- for the policy covering the period of F.Y 2015-16 and F.Y 2016-17.

    Deductioncan be taken as follows :
    1) Rs 15,000 Us 80 D in the F.Y 2015-16 and F.Y 2016-17 OR
    2) Rs 25,000 Us 80 D in the F.Y 2015-16 and no deduction in the F.Y 2016-17.

    Please clarify on the above matter.
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