lic deduction is available on payment basis, but what if we pay by cheque in march ending but it gets cleared and reflect in next year because that lic agent deposited that cheque later,
whether we can claim that
deduction although in bank passbook it gets debited in next year
No.... You can get deduction in next year...
In case the LIC receipt in or before 31st March then you can claim
CAclubindia
