Term plan takemn form life insurance cmpany and Accidental insurace plan.
are eligible for deduction under income tax act, if yes under which section its fall.
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Term Plan deduction under income tax
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Quick Summary
Yes deduction allowed of Term Insurance u/s80C
You are eligible for deduction u/s 80C for insurance on life & 80D for insurance on health.
But you will not get any amount at the end of maturity in the LIP scheme under term insurance
But you will not get any amount at the end of maturity in the LIP scheme under term insurance
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