life insurance
This query is : Resolved
G.SUNILKUMAR
(Querist)
30 December 2007
What is the exact meaning of the explanation to sec 80C(3)with regard to actual capital sum assured. It will be appreciatable if explained through some arithmatic figures
Arun Gupta
(Expert)
30 December 2007
Section 80C(3)is very clear to explain the actual capital sum assured that the value which is assured by the insurance company excluding of (1) any part of refund of premium and (2)excluding any bonus or any other benefit over and above of actual sum assured.
CA. O.P. Agarwalla
(Expert)
02 January 2008
Say
Sum assured is Rs. 100000/-
Premium Paid Rs. 21000/-
Allowable u/s. 80C Rs. 20000/- (20% of 100000)
Sum assured is Rs. 100000/-
Premium Paid Rs. 21000/-
Allowable u/s. 80C Rs. 20000/- (20% of 100000)
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