Tax deduction for FY,

Income Tax Income from Other Sources
1

Hi, I have bought a health insurance policy on 1st Nov and made a yearly payment of around 15k, I am confused regarding how the deduction will work in this case, can I add this 15k as the total deduction for FY21-22, or something else. Since I bought the policy on 1st Nov 2021, the next renewal will be on 1stNov 2022, so how should I account for it based on a financial year.
Kindly help me in this regard.

2

Can I get my query answered, please?

3

Hey @Sheirsh_Saxena ,

The deductions u/s 80D for payment made towards health insurance policy is available on payment basis. Any payment made between 1st April, 2021 to 31st March, 2022 will be eligible for the tax deduction for FY 21-22. So, you can claim deduction for the whole amount for FY 21-22 i.e. 15,000/-. Please also read this article.
Is medical insurance premium deductable u/s 80D? - Learn by Quicko.

Hope it helps.