Under sec 80c income tax benefit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 April 2013
I HAVE A POLICY OF RS 60000 AND IT SUM ASSURED IS 5 LAC SO 80C TAX BENEFIT WILL BE ON S.A OR POLICY AMOUNT OF RS 60000
PLZ HELP ME,
CAN ANYONE CLARIFY MY DOUBT
WAITING FOR YOUR KEEN AND POSITIVE REPLY AS SOON AS POSSIBLE
PLZ HELP ME,
CAN ANYONE CLARIFY MY DOUBT
WAITING FOR YOUR KEEN AND POSITIVE REPLY AS SOON AS POSSIBLE
02 April 2013
Benefit can be availed upto 10% of sum assured or policy premium payment which ever is lower.
In your case benefit will be Rs.50000
In your case benefit will be Rs.50000
02 April 2013
Yes, agreed with the above expert. And assuming your question is related to F.Y 2012-13(A.Y 2013-14). In case your question related to before to the F.Y 2012-13 then replace 10% with 20%. I.e u/s80C benefit for LIC premium can avail upto 20% of sum assured or premimum payment which ever is lower.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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