Menu
80C deduction
A client pay the LIC premium in monthly installment then he get deduction under 80C
Replies (4)
Yes, you can claim the total premium paid for all the 12 months
Yes you can claim but the limit is 150000
Yes, you can Claim... It doesn't matter whether you paid monthly, quarterly, semi annually or annually.
Yes, Sum total of All the payments made towards LIC can be claimed as deduction under section 80C subject to maximum limit of premium paid during the year being less than 10% of sum assured.
Recent Threads
- Warehouse Registration, Whether mandatory?
- Time limit for claiming Input GST credit
- Gst rate and Sac code or RCM attract
- Poll: Do you spend > 30 min/day fixing Tally JSO
- Interest on Accident Claim by Minor
- Capital Gain and Basic Exemption Limit
- Loan to wife and interest income husband income or
- AOC-4 is not being filed
- Returning the shares gifted by daughter?
- Gst tax rate
Related Threads
CAclubindia
