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Mahalakshmi (Querist)
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28 December 2013 is there any limit for the premium paid to be claimed as deduction.?!! for the AY 2014-15. note: i am not asking for the maximum ded u/s 80 C i.e rs. 100000

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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28 December 2013 yes all the policies take after 1.4.2012 it should not be paid in excess of 10% of capital sum assured.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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28 December 2013 Amount of Premium to be claimed as deduction should not exceed 10% of Sum Assured.

Say if Sum Assured is Rs 100000/-

Then amount of Insurance Premium Deduction u/s 80C can not exceed Rs 10000/-.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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28 December 2013 Refer expl to sec 80C for more details.

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