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DEDUCTION U/S 80 C

Others 230 views 3 replies
Sir plz tell me i am a government employee and if i have invested in LIC in the month of jan 19for insurance, may i claim this amount for deduction u/s 80 c in A.Y. 2019-20?
Replies (3)

Yes, you are eligible for deduction in FY 2018-19, i.e. AY 2019-20.

yes, (subject to maximum RS 1,50,000 U/S 80 C )
- if policy taken on or before 31st march, 2012
deduction - premium paid to the extent of 20%of SUM ASSURED
-if policy taken on 1st april, 2012 upto 31st Mar, 2013
deduction -premium paid to the extent of 10% of sum assured
- if policy taken on or after 1st april, 2013 10% / (15% in case covered under u/s 80 u) sum assured
# for further information please reply
yes u can claim deduction under sec80c


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