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LIC SMART PRIVILEGE PLAN


A NRI WANTS TO INVEST IN SBI SMART PRIVILEGE PLAN 6 LAKH P.A., BANK OFFICIALS SAID AFTER 5 YEARS REDEMPTION AMOUNT WILL BE CREDITED TO SBI NRE A/C. I WANT TO KNOW TAX IMPLICATION AT THE TIME OF REDEMPTION/ MATURITY AND WHETHER INVESTMENT AMOUNT QUALIFY FOR 80C EACH YEAR. NRI HAVE YEARLY HOUSE RENTAL INCOME IN INDIA 7 ;LAKH APPROXIMATELY PER ANNUM



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