Lic premium 80c exemptions
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 March 2016
Hi,
My client has an evidence that he paid insurance premium but on the header of the receipt of payment it is written as " Renewal Premium receipt "(late fee also charged) can this be claimed as an exemption under 80C of Income Tax Act, because all other clients have the header named " LIC Premium Receipt ".
My client has an evidence that he paid insurance premium but on the header of the receipt of payment it is written as " Renewal Premium receipt "(late fee also charged) can this be claimed as an exemption under 80C of Income Tax Act, because all other clients have the header named " LIC Premium Receipt ".
14 March 2016
1)Only premium paid to LIC was eligible for exemption u/s 80C
2)Latefee or servicetax paid if any is not eligible to claim exemption 80C
2)Latefee or servicetax paid if any is not eligible to claim exemption 80C
Message likes :
1 times
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
- Reopen of assessment proceeding
- Is any professional CA is here please reply
- Putting a heading on received mail
- Foreign lottery ticket bought online from India: legality, tax and consequences
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- EPF FULL & FINAL RULES IN 2026
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Gift Received from nonblood relative
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Fixe term employment
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
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
