Deduction 80C

This query is : Resolved

Share Report Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

25 February 2011 Whether LIC Market Plus scheme eligible for deduction U/S. 80C of I.T.Act,1961?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

25 February 2011 Market plus policy has an option to choose life cover . If such policy is subscribed, benefit u/s 80C can be claimed.

K V Subba Rao

K V Subba Rao (Expert)
Follow

25 February 2011 LIC Market Plus is not a insurance policy but it is a Pension plan(deferred annuity plan), though you can also opt for insurance near it by paying mortality charges. It is not mandatory to have insurance also surrounded by a deferred annuity plan(see definition "any insurance policy other than a contract for a deferred annuity shall be eligible. "), so condition of Insurance policy is not applicable contained by Pension plan

Source: https://www.insurancefreefaq.com/insurance/7275-insurancefreefaq.html

Message likes : 1 times

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

25 February 2011 Sir
I referred lic website(market plus policy) and expressed my observation as above, though there is no specific yes / No as far as 80C deduction is concerned.
Any way ,thank you for correcting me.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Fredrick Samraj

CA Aakarsh Jain

Jaipal Singh

prakash takane

CA.K.RAMAKRISHNA. PRABHU

Subscribe Now

Deduction 80C

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA