80C deduction

Dear Naveen Kumar,
You can claim for a deduction under section 80C. fir Rs. 150000.

In case where your contributions will cross the threshold limit of Rs. 150000. you can disclose the full amount of contributions. However, in such a case your eligible deduction will be automatically limited to Rs. 150000 only.
That's mean you can claim 80C for full amount of Rs 149900 easily as it is lying under Rs. 150000.

Naveen tell me how much sum assured is for life insurance.

then I can tell you how much u can avail in 80C for LIP part.

and 50,000, u can easily claim 80C

@ Naveen Kumar.,

Yes... You can claim up-to 1.50 lakhs u/s 80C....

1. Maximum deductions allowed under sec 80C is Rs. 1.5 lakhs. 
2. However, this deduction contains certain conditions and restrictions in relation to its mode of investments and the nature of maturity amount. 
3. Contribution to PPF (being a recognized fund) will be fully allowed as deduction. 
4. However, contribution made to LIC will be available as deductions provided the premium amount does not exceed 10% of the sum assured. In your case, the premium amount comes to Rs. 99,900 which is quite high, make sure this amount is within the 10% of the sum assured. 
Please correct me if the above solution has an alternative view.