Lic deduction
This query is : Resolved
Dipankar Chakraborty
(Querist)
05 October 2015
Sir, I have paid 12000 as LIC premium in previous year of 2014-15, My policy value is 3,00,000 /-. Then how much amount will avail for deduction u/s 80c. for Assessment Year 2015-16.
05 October 2015
Please mention the Sum Assured...
Deduction available will be lower of the two:
1) Actual Premium paid.
2) 10% of Sum Assured.
Deduction available will be lower of the two:
1) Actual Premium paid.
2) 10% of Sum Assured.
Dipankar Chakraborty
(Querist)
05 October 2015
sumassured means? Which amount I will get after maturarity including bonous
Dipankar Chakraborty
(Querist)
05 October 2015
I have taken policy after 2012
05 October 2015
See the policy document, Sum Assured will be mentioned there.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Employee secondment
- IMS (import of goods) ITC related
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Form 144 TDS Return Validation Error – Mandatory Fields
- GSTR9 Annual Return
- GST ITC as per notification 12/2023- central tax
- Rent agreement of House of deceased person
- Form 144 TDS Return Validation error
- Capital Gains Tax on Inherited Mutual Fund
- Ito add credit side of bank
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
