Life insurance premia

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partner
88 Points Posted on 18 June 2024

I have 2 LIC policies and i have paid premia on both the policies. Can i claim premia on both the policies under section 80c up to Rs 1,50,000

 

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On 18 June 2024 at 20:01 Report
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You can claim deductions for life insurance premiums paid on your LIC policies under Section 80C of the Income Tax Act. This deduction is allowed in aggregate for all policies, up to a maximum of Rs 1,50,000. However, this benefit is only applicable if you choose to file your taxes under the old tax regime.

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SEO Sai Gr. Hosp.
212529 Points Posted on 18 June 2024

Yes, allowed to be claimed in aggregate, but under old regime.

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On 18 June 2024 at 21:17
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4156 Points Posted on 18 June 2024
Yes you can claim the same to the extent 1.5 lakhs of you are filling under old regime
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On 18 June 2024 at 21:19
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Profession
28271 Points Posted on 19 June 2024
Life insurance premia deduction of chapter vi
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On 19 June 2024 at 09:01

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