Under section 80c

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Querist : Anonymous

Querist : Anonymous (Querist)

09 March 2010 As per new budget for the f.year 2010-11 under section 80C exemption told that 120000/-, is there any limit for insurance and other savings individually or else we can show total lic premium of 120000/- under this exemption.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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09 March 2010 YOU CAN GET 80C DEDUCTION BY PAYING LIC PREMIUM OF RS.100000/- (SUBJECT TO 20% OF SUM ASSURED). RS20000/- IS FOR INVESTMENT IN INFRASTRUCTURE BOND.

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CA RATAN JHA

CA RATAN JHA (Expert)
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09 March 2010 still limit of sec. 80c is 100000.
new sec. inserter i.e. sec. 80ccf to avail benefit in investing infrastructure bonds.

infrastructure bonds are still not notified.

CA Prashant Gupta

CA Prashant Gupta (Expert)
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09 March 2010 80C limit is still 100000/-. if you want only lic then for 100000/- premium sum assured should be minimum 500000/-
20000/- deduction is u/s 80CCF which is available only for purchasing infrastructure bonds. separate list for these bonds will be issued but till date no list.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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09 March 2010 Still Rs.100000/ only Rs.20000/- towards Infrastructure bonds

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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10 March 2010 The proposed section 80CCF provides for a deduction to an individual/HUF upto a limit of investment of Rs.20,000/-,over and above the existing limit of Rs.1,00,000/- under section 80CCE. The said investment has to be made in long term infrastructure bonds to be notified by the Central Government.

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