Saving U/s 80 C
This query is : Resolved
20 February 2011
Dear Experts,
I have taken one ULIP in LIC (Market Plus ) in the name of my wife, Due to unavoidable causes i have not deposited Premium in F.y. 2009-10,further I have deposited premium in F.Y.2010-10 which was due in F.Y.2009-10 , Next Premium due in F.Y.2010-11 & Deposited in F.Y.2010-11, Can I take benefit u/s 80 C in the F.Y.2010-11 against both deposited Premium .
I have taken one ULIP in LIC (Market Plus ) in the name of my wife, Due to unavoidable causes i have not deposited Premium in F.y. 2009-10,further I have deposited premium in F.Y.2010-10 which was due in F.Y.2009-10 , Next Premium due in F.Y.2010-11 & Deposited in F.Y.2010-11, Can I take benefit u/s 80 C in the F.Y.2010-11 against both deposited Premium .
20 February 2011
Yes you can claim the benefit for the total amount paid by you as an assessee is entitled to claim the benefit U/s 80C , only on payment basis.
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