Hi,
I have LIC Endowment policy with s.a. of Rs 50,000 for which I paid premium of Rs. 3,345 in April 2011. How much of tax benefit I can get from this investment for the year 2011-12?
Thanks.
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LIC tax deduction for 2011-12
Replies (4)
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
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