80 C LIC

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Prakash (Querist)
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15 December 2009 I want to pay LIC premium halfyearly basis for the period Jan'09 to June'09 on 1st Jan'09. Under 80 C, LIC can claim on payment basis. So, Can I claim LIC premium for the next f.y. 2010-11 (period April'09 to June'09) in the F.Y 2009-10 (A.Y.2010-11)?

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
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15 December 2009 If you pay late; then the deductions will be available in the year of payment for both the instalments.

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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15 December 2009 80C applicable on Payment Basic.if You pay 2 Years Premium in one year then you can claim that Benefit on that Year.

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