deduction u/s 80c
This query is : Resolved
Navneet Kaur Chawla
(Querist)
11 June 2016
I have taken HDFC Life Super Income Plan. I have paid premium of Rs 100000/- during the year and sum assured of policy is as under-
sum assured on maturity =Rs 587966/-
sum assured on death = Rs 964970/-
How much deduction I will get u/s 80C? whether it is a annuity plan or life insurance plan? whether it will be limited to 10% of sum assured ? or if it is a annuity plan whether full amount will be allowed as deduction?And what value will be taken as minimum sum assured?
plz help
sum assured on maturity =Rs 587966/-
sum assured on death = Rs 964970/-
How much deduction I will get u/s 80C? whether it is a annuity plan or life insurance plan? whether it will be limited to 10% of sum assured ? or if it is a annuity plan whether full amount will be allowed as deduction?And what value will be taken as minimum sum assured?
plz help
Ganeshbabu K
(Expert)
12 June 2016
you may claim insurance premium limited to 10% on sum assured on death or insurance premium paid which ever is lower
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