80c

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CA JAYESH RELKAR (Querist)
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13 June 2015 1) what is the meaning of "single premium policy"

2) do we get deduction of MIS subscription? if yes under which clause of 80C???

Amol S Joglekar

Amol S Joglekar (Expert)
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13 June 2015 one time premium is paid and the policy is opted. That is called single premium policy.

For such a policy, care be taken if it exceeds the 10% value of the sum assured, else it will loose the benefits under 80C

CA JAYESH RELKAR

CA JAYESH RELKAR (Querist)
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13 June 2015 one time during any FY or during lifetime??

Amol S Joglekar

Amol S Joglekar (Expert)
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14 June 2015 one time indicates the time in the life time of policy.
The context otherwise does not provide any thing else and hence instead of one time, the more appropriate words are used in the Act viz SINGLE premium policy

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