Deduction u/s 80c
This query is : Resolved
shivam jain
(Querist)
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.
Dhirajlal Rambhia
(Expert)
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.
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