S 80c- deduction for lic premium paid

Govind Rathore (CA Final) (543 Points)

03 April 2015  


Mr. X wants to claim deduction under section 80C for the LIC Premium paid for his family.

Details: AY 2014-15

Mr.X - Premium Rs. 2507 (Sum Assured Rs. 50000)

Mrs X - Premium Rs. 23150  (Paid for 3 Years)( Sum Assured Rs. 100000)

Both Polices taken before 31-03-2012

What will be the premium amount that can be claimed?