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80 c

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Prakash (Querist)
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05 March 2009 LIC premium deposit for the month of March'08 on 1st April'08. Can any individual claim this amount under sec 80C for the F.Y. 07-08?

VINOD KUMAR GUPTA

VINOD KUMAR GUPTA (Expert)
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05 March 2009 No

CA.MANOJ LAMBA

CA.MANOJ LAMBA (Expert)
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05 March 2009 he can can deduction in year 07-08

CA Nitin Wadhwani

CA Nitin Wadhwani (Expert)
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05 March 2009 Deduction is on payment basis under sec.80-c.
he will have to claim deduction in 08-09.

CA.Tarun Maheshwari

CA.Tarun Maheshwari (Expert)
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05 March 2009 Nitin is right.

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