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

[Ankit_09]

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?

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[Rahul]

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