Request
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 August 2014
Can I avail TO Deduct the LIC Premium of my Husband & my daughters, under 80C. How much the maximum amount of pemium I can vail.
19 August 2014
Yes you can avail deduction for LIC premium paid by you for your husband and daughter u/s 80C. Maximum deduction available u/s 80C is Rs 1 lac. From FY 2014-15 maximum deduction available u/s 80C is Rs 1.50 lacs.
LIC Premium deduction is subject to maximum of 10% of sum assured value.
LIC Premium deduction is subject to maximum of 10% of sum assured value.
Rupesh Jain
(Expert)
21 August 2014
YOU CAN TAEK DEDUCTION OF LIP FOR YOU YOUR WIFE AND CHILDEREN RS. 1.00 LCAS FOR 2013-14 F Y.
AND FOR F Y 2014-15 IT LIMIT IS RS. 1.50 LACS. BUT PREMIUIM SHOULD BE UPTO 10% OF THE SUM ASSURED IN A YEAR.
AND FOR F Y 2014-15 IT LIMIT IS RS. 1.50 LACS. BUT PREMIUIM SHOULD BE UPTO 10% OF THE SUM ASSURED IN A YEAR.
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