Us 80c
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 September 2011
A ASSESSEE PAID LIC AMOUNT BY CHEQUE ON 29/03/2011 BUT CHEQUE CLEARED ON 02/04/2011.
80C DEDUCTION WILL BE AVAILABLE FOR THE A.Y. 2011-12 OR NOT.
THANKING YOU
80C DEDUCTION WILL BE AVAILABLE FOR THE A.Y. 2011-12 OR NOT.
THANKING YOU
09 September 2011
Yes it will be available for the Ay 2011-12 as the date in LIC receipt will be 29/03/2011. Date of receipt will be considered and not the date of clearance of Cheque.
Dintakurthi Tirumala
(Expert)
09 September 2011
If the cheque was dishonored on the clearing date then the same will be treated as not paid.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
09 September 2011
Date on LIC receipt of premium determines the period for 80C;
Even if the cheque remains unpaid, that would be a matter between LIC and the Policy holder, there is no system of informing unpaid cheques to I-T Deptt by LIC, so far;
Even if the cheque remains unpaid, that would be a matter between LIC and the Policy holder, there is no system of informing unpaid cheques to I-T Deptt by LIC, so far;
10 September 2011
I agree with the expert
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
