Saving U/s 80 C

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Dinesh (Querist)
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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 .

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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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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