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
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;
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