deduction u/s 80c
This query is : Resolved
11 June 2016
I have taken HDFC Life Super Income Plan. I have paid premium of Rs 100000/- during the year and sum assured of policy is as under-
sum assured on maturity =Rs 587966/-
sum assured on death = Rs 964970/-
How much deduction I will get u/s 80C? whether it is a annuity plan or life insurance plan? whether it will be limited to 10% of sum assured ? or if it is a annuity plan whether full amount will be allowed as deduction?And what value will be taken as minimum sum assured?
plz help
sum assured on maturity =Rs 587966/-
sum assured on death = Rs 964970/-
How much deduction I will get u/s 80C? whether it is a annuity plan or life insurance plan? whether it will be limited to 10% of sum assured ? or if it is a annuity plan whether full amount will be allowed as deduction?And what value will be taken as minimum sum assured?
plz help
12 June 2016
you may claim insurance premium limited to 10% on sum assured on death or insurance premium paid which ever is lower
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