Tax benefit u/s80c
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 March 2013
What is the exact criteria for getting tax benefit u/s 80C for Life insurance premium. If the premium is tha 10% of the Sum Assured, should one get tax benefit propertionatly?
Regards
Regards
25 March 2013
Yes, he can get the deduction u/s80C the condition to get the exemption of LIC preimum u/s 80C the premium should not be exceed 10% of sum assured. I.e it may be 10% of sum assured.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 March 2013
Suppose on has got Plicy Sum Assured Rs 10 Lacs by paying premium of Rs 1.10 lacs. What is the amount he should get rebate u/s 80C.
Suppose on has got Plicy Sum Assured Rs 10 Lacs by paying premium of Rs 1.10 lacs. What is the amount he should get rebate u/s 80C.
25 March 2013
He will get Rs.1,00,000 as the premium of LIC.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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