Section 80c lic premium
This query is : Open
29 January 2014
Can anyone tell whether the limit of 10% of the sum assured in respect of the LIC premium is applicable on each premium paid separately or total premium paid for the FY.
30 January 2014
it applies to each separate policy...
30 January 2014
But actually i'm asking regarding the premium paid for the single policy. Whether the limit of 10% or 20% as the case may be applies for the whole year premium paid or for the individual premium amount which may be payable monthly/quarterly/half yearly???
30 January 2014
ok...the total premium paid during the year...
30 January 2014
yeah exactly for the whole year.
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