A deposits some amount towards an annuity policy of LIC: Jeevan Akshay VI.
He wants to claim deduction while filing his return.
But, he's confused w.r.t section of the IT act under which the deduction is available for the AY 2015-16.
1. 80C?
2. 80CCC?
Both the sections have different limits for the said assessment year.
Section 80CCC of the Income Tax Act is applicable in this plan
So max deduction will be Rs. 100,000 ?
for AY 15-16 the llimit is 1.5 lacs (consolidated with 80C)
But Individually for 80CCC it is Rs. 100,000.
yes, for the sepecific section limit is 1 lac
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