LIC to remain open on March 30, 31 to aid taxpayers in completing tax-saving activities

Tax-saving deadline: India's largest insurer, Life Insurance Corporation (LIC) has announced that its offices will remain open on March 30 and March 31 in a bid to assist taxpayers in completing their tax-saving activities before the end of the fiscal year. This decision aligns with recent measures undertaken by banks, which have also announced the continuation of operations during the weekend.

The initiative from LIC follows the directive issued by the Reserve Bank of India (RBI) earlier this month, instructing banks to keep their designated branches open for government transactions until normal working hours on March 30 and March 31, 2024.

According to a statement released by LIC, this decision follows the advisory provided by the insurance regulator, IRDAI. LIC has chosen to extend this special measure to its policyholders, aiming to alleviate any potential hardships they may face in completing their financial transactions before the fiscal year-end.

"It has been decided that the Offices under the jurisdiction of zones and divisions will be kept open for normal operations as per official working hours on 30.3.2024 and 31.3.2024, in order to avoid any hardship to the policyholders," stated LIC in its announcement.

(With PTI inputs.)