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80c - lic

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(Querist)
11 April 2012 Dear Experts,
Is late fees paid on LIC Premium allowed as deduction u/s 80C??
Kindly give ref. of case study, if any.
Thanks in anticipation.
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Mihir Doshi

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Mihir Doshi (Expert)
11 April 2012 Only premium is eligible under section 80C, Late payment fees can be claimed by way of deduction.

Simply, not allowed

Thanks
Mihir Doshi
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
11 April 2012 https://www.caclubindia.com/forum/details.asp?mod_id=118960&offset=1

Please also check the discussion from below link in this regard.
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
11 April 2012 agree only premium amount can be claim in 80C
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Mihir Doshi

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Mihir Doshi (Expert)
11 April 2012 Typing mistake. Late payment fees will not be allowed by way of deduction.
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Dhanraj Jeyakumar

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Dhanraj Jeyakumar (Querist)
12 April 2012 Thanks a lot,
but still it seems to be a debatable point.
Even in the link given by Sanjay Guptaji, i cant see any conclusion.
Is there any case law on the same??
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