80c deduction
This query is : Resolved
06 March 2012
Whether LIC plan Bima Bhachat ( Table No.175) single premium is considered as deduction U/S 80C or not.
07 March 2012
Yes, the same is eligible for deduction u/s 80C.
Mihir Doshi
(Expert)
07 March 2012
Yes, u/s 80C deduction is available, though it is single premium policy.
Guest
Guest
(Expert)
07 March 2012
The deduction of premium is is restricted to 20% of sum assured in a year
Guest
Guest
(Expert)
07 March 2012
Pls follow the link
https://www.caclubindia.com/forum/details.asp?mod_id=71450&offset=1
https://www.caclubindia.com/forum/details.asp?mod_id=71450&offset=1
Mihir Doshi
(Expert)
07 March 2012
Yes,
Deduction is restricted to 20% of sum assured....
Thanks Mr. Ashwin to add this clarification.
Thanks
Mihir Doshi
Deduction is restricted to 20% of sum assured....
Thanks Mr. Ashwin to add this clarification.
Thanks
Mihir Doshi
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