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Thread: Cheque encashed in April'2012 by LIC - Will I be eligible for deduction under 80C for FY 2010-11?

  1. #1
    NewBie
    Join Date
    Jul 2012
    Location
    Kanpur
    Posts
    19

    Question Cheque encashed in April'2012 by LIC - Will I be eligible for deduction under 80C for FY 2010-11?

    I have a query regarding LIC policy payment through cheque. I have made a payment through cheque on 31st July 2012 and have got the premium receipt showing dated 31st July 2012 but the cheque was encashed by LIC on 7th April 2012 through my Saving bank Account. Will I still be eligible to claim deduction under section 80C for the financial year 2010-11?




  2. #2
    Moderator Rahul's Avatar
    Join Date
    Feb 2009
    Location
    Delhi
    Posts
    386

    Default

    You will get the tax rebate on the basis of premium receipt.
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