is life insurance premium paid by individual deductible under sec 37?
Menu
Deduction us 37
Replies (5)
claim deduction under 80c subject to condition
no as it's personal expense and not an expense for business purpose
I m talking abt personal expense only not viewpoint of budiness
life insurance premium can be claimed u/s 80c max deduction is Rs 150,000 subject to certain conditions
@ Priyanka
Deduction for LIC premium is under section 80C upto overall limit of 150000/- .
80C contains many items for deduction and one of them is LIP.
All put together max deduction is 1.5 lakhs.
How come section 37 you mentioned ?
Deduction for LIC premium is under section 80C upto overall limit of 150000/- .
80C contains many items for deduction and one of them is LIP.
All put together max deduction is 1.5 lakhs.
How come section 37 you mentioned ?
Recent Threads
Related Threads
CAclubindia
