LIC tax deduction for 2011-12

full benefit available of 3345 u/s 80C

Full premium will be reduced from your taxable income and the tax gain is 10 - 30% as applicable for you

full premium will be deducted                   

helloo,

20% of sum assured or premium paid during the year, whichever is less amount should be the amount of deduction you can avail u/s 80C.

therfore In your case, you can avail full deduction sum of Rs.3345 /-.

Thanx and Regards,

Kunal Desai