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Lic premium

This query is : Resolved 
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(Querist)
08 May 2014 If LIC premium paid above 20% of Policy Value then whole premium will be disallowed or not ? Example: policy value ₹ 100000 Premium ₹ 25000 policy taken before 01.04.2012 in this case can we take deduction upto ₹ 20000 ?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
08 May 2014 Yes, because eligibility will be lost for the premium paid in excess of 20% of the capital sum assured.
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