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Querist : Anonymous

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Querist : Anonymous (Querist)
01 March 2013 my basic salary is 600000 which is inclusive of professional tax (200 P.M)and 80c deduction was 100000.out of this 80c i paid jeevan sugam 50000 and another premium of rs 56000 can i get an exeemption for the first 50000 jeeavn sugam
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@VaibhavJ

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@VaibhavJ (Expert)
01 March 2013 Hi

Restriction in LIC is that Insurance premium should not exceed 20% of the actual capital sum assured.

So you can claim deduction in conformity with above conditions.

Thanks!!
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