09 October 2015
For taking deduction in LIC u/s 80c any time period allowed for holding LIC policy. For, example if anyone take policy on January 2014 then can he avail deduction u/s 80c for a.y 2014-15?
09 October 2015
Then how to calculate the deduction amount. If sum assured is 2,00,000 /- and policy taken in 10/1/2014, then what will be the deduction amount. Premium is not paid whole year.
CAclubindia
