Postal Life Insurance
Querist : Anonymous
(Under Income Tax Act, 1961)
If Postal Life Insurance (PLI) is paid for the period Jan 11 to Jun 11, on 18th January, 2011 then can we claim full deduction u/s 80C of Income Tax Act in the year of payment? (i.e. in FY 2010-11)
OR
3 months premium will be allowed in FY 2010-11 and 3 months premium will be allowed in FY 2011-12?
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