Deduction u/s 80c
This query is : Resolved
19 July 2018
DEDUCTION WILL BE THERE , IF LIC PREMIUM IS LESS THAN 10% OF SUM ASSURED .....
IF INSTALLMENT OF LIC IS QUATERLY,,,THEN 10% WILL BE CLACULATED ON WHAT BASIS ???
MEANS YEARLY OR QUATERLY ???
IF INSTALLMENT OF LIC IS QUATERLY,,,THEN 10% WILL BE CLACULATED ON WHAT BASIS ???
MEANS YEARLY OR QUATERLY ???
20 July 2018
The 10% calculation applicable when received premium after matured...
You can claim LiC paid amount year wise from April to March payment receipt basis.
14 October 2021
=No. No deduction will be there as it will be exempted u/s. 10(10D) of IT act.
=Total premium paid per year.
=Total premium paid per year.
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
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Surcharge on pvt discretionary trust
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
