matter of income tax
This query is : Resolved
Guest
Guest
(Querist)
23 July 2011
good morning to all expert
dear expert i rec. form 16 of previous year (2009-2010),my tax payable is 10056. can i show any lic (which are not show in my form 16)in my income tax return to decrease my tax ( 10056) any idea plz sujjest..
dear expert i rec. form 16 of previous year (2009-2010),my tax payable is 10056. can i show any lic (which are not show in my form 16)in my income tax return to decrease my tax ( 10056) any idea plz sujjest..
23 July 2011
Yes. Lic premium paid and not included in form no. 16 can be considered while filing IT return subject to the overall limit of Rs.1,00,000/- prescribed under section 80C of the Income tax Act,1961.
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