Govt. employee
This query is : Resolved
03 August 2014
Dear Experts,
If any govt. employee received pension income as well received arrears during that year. Sane here he was paid lic for his son and wife. Can he get benefits in Sec. 80c.
03 August 2014
Yes he can claim deduction u/s 80C for Life Insurance Premium paid for his son and wife. From FY 2014-15 the limit has been enhanced from Rs 1 Lac to Rs 1.5 Lac.
04 August 2014
pension and arrear on panensin is taxable as salary income and insurance premium can claim u/s 80C. up to Rs. 1 lacs for F Y 2013-14.
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