Hello friend I wan's to know for deduction allowed under 80C for LIC ONE TIME Premium Policy Paid Of Rs.106500 which will matured after 7 year with 230000 so how much to claim as Deduction.????
Menu
Deduction 80c of one time premium policy of lic
Replies (3)
Full 1.5L allowed.
Sir,
as per 80c the deduction for lic is only 10% of actual capital sum assured na.. Then how can we claim full 1,50,000 as deduction?
deduction in respect of premium cannot exceed for:
policy issued before 1/4/2012 - 20% of sum assured
policy issued during 12-13 - 10% of sum assured
policy issued on/after 1/4/2013 - 15%*/10% of sum assured
*Person covered by sec 80DDB or 80U, for others it is 10%
Recent Threads
- 44ADA income declaration
- Taxation of RSU sold of foreign listed entity by e
- Form26QB in case of death of joint owner (seller)
- Exemption of allowance
- Hardship compensation recd from builder (redevelop
- ITC CLAIM REGARDING EXPENSES
- Section 54 exmeption on under construction propert
- Taking too long to process ITR-2
- RCM or not
- AIS NOT OPEN
Related Threads
CAclubindia
