Services
35 Points
Joined August 2007
Originally posted by : R.Suresh |
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Hi All,
I have one query in Deduction U/s 80C. One of my colleague given a premium paid receipt for Rs 30,000/- PA. but the sum assured value is Rs. 1,00,000/- in this case i going to take deduction u/s 80C for Rs 30,000/- or 20% sum assured value.
Please advice me...
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The Section Stands as Life Insurance Premium Paid, subject to maximum 20% of Sum Assured value.
Calcuation as follows, LI Premium Rs 30,000/- Subject to Maximum Rs 20000(S.A.100,000 @ 20%)