Fiscal Year End Rush: LIC Extends Office Hours For Taxpayers; To Stay Open On March 30 And 31

In a bid to accommodate taxpayers racing against the fiscal year-end deadline, both Life Insurance Corporation (LIC) have announced extended operational hours for March 30 and March 31, 2024.

In response to the recent directive from the Reserve Bank of India (RBI) for banks to keep specified branches open over the weekend, LIC has followed suit, ensuring accessibility for individuals aiming to finalise their financial matters before the fiscal year concludes.

LIC's Decision to Support Taxpayers

In accordance with the advisory issued by the Insurance Regulatory and Development Authority of India (IRDAI), LIC has opted to extend this special measure to its policyholders.

LIC's Statement

In a statement released by LIC, the public sector insurer said, "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."

Facilitating Taxpayers

The decision by LIC to extend its office hours aligns with an efforts to facilitate taxpayers in completing their tax-saving activities before the fiscal year-end. By keeping its offices open during the weekend, it aims to provide an additional window of opportunity for individuals to manage their financial obligations effectively.