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Section 80 c

This query is : Resolved 
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(Querist)
12 February 2013 I have paid insurance premium of Rs.50000/- and sum assured is Rs.250000/- , how much amt of tax benefit i will get u/s 80 C for the financila year 2012-13 ?
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
12 February 2013 If the policy has been taken on or after 1.4.2012 , U/s 80C 10% of sum assured i.e.
Rs 25000/- can be claimed as deduction. If its an old policy you can get 20% of Sum Assured .
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