1. I am paying LIC Premium yearly, does this come under 80C or 80CCC?
2. My parents are below 60 yrs am I eligible to claim Medical Insurance under 80D?
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LIC Premium and Medical Insurance
Replies (1)
1. Life insurance premium is deductible u/s. 80C.
2. Yes, max. upto Rs.25000/- (in addition to own 80D deduction), but the amount must have been paid using the taxpayer’s income chargeable to tax.
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