Does investment made in pradhan mantri vaya vandana yojana qualify under section 80?

Tax planning 126 views 1 replies

I am thoroughly confused about whether investment in the above scheme (authorized by the Govt to be run and administered by LIC qualifies for benefits under section 80 or not

Some agents say yes and some say no.  Likewise in LIC branch offices, one said yes and another NO

On the interet it is even more confusing

This site says yes  https://www.myinsuranceclub.com/life-insurance/companies/lic-of-india/pradhan-mantri-vaya-vandana-yojana

while the economic times site (usually the first hit if googled) says NO

Was the tax benefit first offered and then revoked or vice-versa

Finally, what is the status for persons investing in 2108-19 and filing returns in AY 2109-20?

Can I be furnished any definite proof of any tax benefit that can or cannot be availed for investment in this yojana?

Thank you

Replies (1)
This is not prescribed investment under 80C and hence no deduction


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