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Deduction u/s 80 c

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Querist : Anonymous

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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??????
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
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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