no way
its not allowed
Menu
Deduction U/s 80C against LIC premium
Replies (21)
no way
its not allowed
Deduction under Sec. 80 C is available on paymnet basis.
Deduction for LIC premium
(i). Premium Paid
(ii). 20% of sum assured.
Whichever is lower.
no
No. deduction on account of lic premium is available in the year in which premium is paid and it is subject to 20% of capital sum assured.
| Originally posted by : CA Dhirendra Singh | ||
 |
Deduction under Sec. 80 C is available on paymnet basis. Deduction for LIC premium (i). Premium Paid (ii). 20% of sum assured. Whichever is lower. |
 |
| Originally posted by : kabita periwal | ||
|
Originally posted by : CA Dhirendra Singh Deduction under Sec. 80 CÂ is available on paymnet basis. Deduction for LIC premium (i). Premium Paid (ii). 20% of sum assured. Whichever is lower. Â |
|
no
Recent Threads
- Closing Stock111
- INVOCIE GENERATED FROM ONE COMPANY AND EWAY BILL G
- Ineligible itc under section 16(4) & itc restr
- Itc on when mixed sales percent in hospitality
- Apply for GST registration while working in MNC
- Deferment period for Advance Tax under Section 234
- Permanant transfer of duty free goods by Advance A
- 1% TDS Deduction on Property purchase through inst
- Tax on leave encashment on retirement
- Guidance Required on Notices Under Section 234B Af
Related Threads
CAclubindia
