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Lic jeevan akshay vi plan & 80c

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Querist : Anonymous

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Querist : Anonymous (Querist)
14 June 2017 I have purchased a Jeevan Akshay Plan VI from LIC by paying a single premium of Rs. 1,58,000/-. From Which I will get an annual annuity of Rs. 10,800/- each year from next year. Whether Single Premium of Rs.158000/- is allowable as deduction U/S.80C for AY 2017-18. Whether annual annuity of Rs.10,800/- will be taxable ?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
14 June 2017 Yes. Premium paid under Jeevan Akshay VI plan is eligible u/s.80C & Annuity received from that plan is taxable
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