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.
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
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