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SECTION 80C

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(Querist)
11 December 2009 WHETHER INCOME TAX BENEFIT U/S 80 C ON INVESTMENT IN LIC PLAN 191 MARKET PLUS IS AVAILABLE WHEN THERE IS ZERO SUM ASSURED ?
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C.A.Amitabh Gupta

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C.A.Amitabh Gupta (Expert)
12 December 2009 Yes, benefit available u/s 80 C . It covers premium paid on any any Life Insurance plan ( subject to max 20% of sum assured ) . It means the premium paid to be qualified u/s 80 C should not exceed 20% of sum assured i.e it can always be within 20% of sum assured

rgds
CA AMitabh Gupta
Indore
ag_ind@rediffmail.com
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praful

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praful (Querist)
14 December 2009 you are saying 20 % of sum assured, but when there is zero sum assured ?
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