Please help me.......
Can anyone tell me that , (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?
I Think You can claim full amount in f.y. 10-11
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