deduction allowed u/s 80c is 20% of policy amount or amt deposited whicever is less. Hence if policy amt is 75000, maximun deducltion claimable is 75000*20%= 15000., even though amt deposited is 50000. Rest of the amt will be neither taxable nor get any deduction,.,
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Deductions u/s 80C
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deduction allowed u/s 80c is 20% of policy amount or amt deposited whicever is less. Hence if policy amt is 75000, maximun deducltion claimable is 75000*20%= 15000., even though amt deposited is 50000. Rest of the amt will be neither taxable nor get any deduction,.,
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