Lic
Querist : Anonymous
I have opted a lic amount to rs 105000/-. Now my question is that will it be deduction in income tax if yes, then how much deduction will be received by me.
Is it premium????
If its premium then u/s 80 C, deduction is avaiable upto INR 100000/- provided other condition satisfied.
Thanks
Mihir Doshi
Querist : Anonymous
Only premium on LIC Policy will be allowed for deduction.
U can claim total paid premium till the limit of INR 100000/- during the year.
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