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Deduction U/s 80C against LIC premium

Tax queries 4791 views 21 replies

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 C  is available on paymnet basis.
Deduction for LIC premium
(i). Premium Paid
(ii). 20% of sum assured.
Whichever is lower.





 

no


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