Lic premium
This query is : Resolved
24 August 2014
sir
what is the treatment of deduction of lic premium if the premium exceeds 10% of the total policy amount
24 August 2014
If the LIC premium is more than 10% of the Capital Sum Assured then only 10% can be claimed as deduction u/s 80C subject to overall limit of 1 lac u/s 80C. This limit of Rs 1 lac has been enhanced to Rs 1.50 lacs from FY 2014-15.
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
- Two pancard
- Transfer of MF
- Eligibility for filling NEW Form 121 from April 2026
- Lifting and cross charges
- Regarding E-invoice Generation
- E bike purchase can get input in GST
- SSY for 2 daughters
- Regarding updated Return After Submission of Income Tax Audit Report
- GST APPLICATION
- Question of gst and income
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- B2B Amendment
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- Regarding Advance Tax not claimed in the Return of Income for A.Y. 2025-26
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
