Deduction U/s 80c
This query is : Resolved
28 February 2008
I would like to know what is the amount of deduction in respect of LIC premium paid the assessee for the assessment year 2008-09?
28 February 2008
u/s 80C of the income tax act maximum deduction is rs. 100000/- is allowed to the individul,investment is not specified yoy will invest 100000/- in LIP
28 February 2008
The premium paid subject to Rs.100000/-.
28 February 2008
LIC PREMIUM CAN BE UPTO THE MAXIMUM LIMIT U/S 80C i.e RS. 100000/-
28 February 2008
UNDER 80 C DEDUCTION FOR LIC PREMIUM IS ALLOWED UPTO RS. ONE LAKH BUT THE PREMIUM SHOULD NOT EXCEED 20% OF SUM ASSURED.
R.V.RAO
R.V.RAO
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- ITDS U/S.194T of Firm
- Difference between Date of Payment and Date of Deduction?
- Unregistered suppliers utility
- Non-Compliance documents have not been submitted by the contractors debited
- EXPORT COMMERCIAL INVOICE HSN CODE
- Bank details not Visible on Traces Portal
- TDS ON EMAIL DOMAIN SERVICE BILL
- Journal entry of busniess expenses
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
