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Lic deducation

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(Querist)
19 March 2013 I was paid Rs 37673/- annually in SBI LIFE INSURANCE FOR THE PERIOD F.Y 2012-13 & POLICY SUM ASSURED RS 300000/-
HOW MUCH DEDUCTION ALLOWED U/S 80C
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Pankaj Joshi

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Pankaj Joshi (Expert)
19 March 2013 If policy is taken on or before 31.03.2012, then deduction will be 37673/-. But if policy is taken on or after 01.04.2012, then deduction shall be upto 10% of Sum Assured i.e. Rs 30000/- only. Wait for some other replies of experts.
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