banner_ad

Income tax deduction u/s 80 c

Tax planning 372 views 1 replies

Hello Everyone,

Can anybody help me to find out the answer of one question.

The question is:-

Our Lic prem due date is 15th April 2015 for f.y. 2015-16.

But we paid Lic premium for f.y. 2014-15 on 15 th April 2014 and

for Lic premium of f.y. 2015-16 on 15th march 2015.

Lic premium per year is Rs. 40000/-

Then, How much deductions U/S 80C we will get for F.Y.2014-15?

 

Thanks & Regards

Sanjaykumar Padhi

 

Replies (1)
Deduction is available on payment basis. But premium paid should not exceed 10% of sum assured. So, you can claim Rs. 80,000


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details