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

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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15 December 2009 All the LIC Premium or Other Insurance Company's Insurance Policies Premium are advance.
Suppose You have Log in one Policy on 1stJan'10 ok then your Policy Period will be 31st Dec'10 ended for 1 Year. When U Renewal your Policy the Period will be from 1st Jan'11 to 31st Dec'11 ok
simple When u Pay Premium on that F.Y You have to Claim the Benefit of U/S 80C. OK

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