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Deduction of LIC premium

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Chahat Bansal

226 Points Posted on 06 August 2020

A salaried person filed his ITR -1. In
Part B of Form 16 there is deduction of LIC premium of 1,10,000.
but when I checked his ITR Form deduction actually claimed was of 60,000.
what would be the reason for such difference in Form 16 and Actual IT filled

Replies (2)

Quick Summary

A user noticed a significant difference between the LIC premium deduction stated in their client's Form 16 (£1,10,000) and the amount actually claimed in the ITR-1 filing (£60,000). The discussion explores potential reasons for this discrepancy, including the possibility of LIC premiums and health insurance premiums being incorrectly grouped under Section 80C in Form 16, instead of being split between Section 80C and Section 80D.

vijay sai

29 Points Posted on 06 August 2020

May be in form 16 ,both LIC premium and HEALTH insurance for his family including senior citizens are showed under sec 80C instead of showing Rs.60000/-under 80C And Rs.50000/- u/s 80D.
sir did u verified the LIC certificate ?

Ravi SADhiyan

Practice

4510 Points Posted on 06 August 2020

Originally posted by : Chahat Bansal
	A salaried person filed his ITR -1. In Part B of Form 16 there is deduction of LIC premium of 1,10,000.but when I checked his ITR Form deduction actually claimed was of 60,000.what would be the reason for such difference in Form 16 and Actual IT filled