LIC Deduction
This query is : Resolved
26 August 2010
If premium of earlier years is paid this years , then can deduction can be claimed of that earlier year.?
For Ex. If LIC Premium for Acc. yr. 07-08,08-09, 09-10 then can deduction for 08-09 can be claimed in 08-09 or in the year in which it is paid...????
For Ex. If LIC Premium for Acc. yr. 07-08,08-09, 09-10 then can deduction for 08-09 can be claimed in 08-09 or in the year in which it is paid...????
26 August 2010
Deduction under section 80 C may be availed in the year in which premium is paid irrespective of the year to which premium belongs to.
26 August 2010
Thanx sir it means if we have paid premium for earliers this yeears then we can get deduction this year.
26 August 2010
yES, YOU CAN GET DEDUCTION IN THIS YEAR .
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