TaxTMI 
TaxTMI 
L.I.P. Receipts-Return of-Instructions regarding
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.... Subject: L.I.P. Receipts-Return of-Instructions regarding. The present procedure is that LIP receipts which are produced by the assessees in support of their claim u/s. 80C are made a part of the income-tax records. It has been suggested to the Board that policyholders are frequently required by the LIC to show the original receipts towards proof of the payment of the p....