80 deduction of lic premium paid


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Querist : Anonymous

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Querist : Anonymous (Querist)
22 January 2015 hi i want to know i have paid Life insurance Premium 73,642 on 13.1.2015. Sum assured 1000000. whole amt 73642 will be applicable for deduction under section 80C or there is some other calculation method.

22 January 2015 max 10 % is allowed on capital sum assured , so in your case upto 1 lkahs ( 10% of 10 lkahs) is allowed.

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Querist : Anonymous

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22 January 2015 Hi & what about ULIP & Insurance plans, plz reply

22 January 2015 https://taxguru.in/income-tax/all-about-deduction-under-section-80c-and-tax-planning.html

https://cleartax.in/Guide/section80deductions

https://www.moneycontrol.com/news/tax/section-80-c-tax-saving-instruments_573076.html

https://www.firstpost.com/investing/a-handy-list-of-instruments-with-tax-benefits-under-section-80-c-617190.html

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 January 2015 what is the calculation method for Pension plans or Ulip or simply whole premium paid amt allowed as deduction upto 1,50,000, urgent plz reply

27 January 2015 premium should not exceed 10% of the policy amount.


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