Deduction u/s 80 c
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 March 2012
whether the deduction is allowable in case the premium amount of Insurance paid is in excess of 20 % of sum assured??????
is this prov still apllicable or it was applicable previously and no such prov exist.......kindly reply??????
is this prov still apllicable or it was applicable previously and no such prov exist.......kindly reply??????
12 March 2012
Premium paid in excess of 20% of the capital sum assured will not qualify for deduction u/s 80C(2)(i) of the Income tax Act,1961. Please refer section 80C(3) of the said act for full details.
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