07 March 2012
Sir maine lic ki money plus single premium 50000.00 ki policy 3.1.2011 ko li thi. kya main incometax return A.Y. 2011-12 me 80C mein rebate le sakata hoon. please help me .
07 March 2012
Yes, you can claim deduction of Rs 15,000 paid as premium for the Money Plus . Premium paid for any life insurance plan is eligible for deduction from your gross total income under Section 80C of the Income Tax Act. The overall limit for tax saving investments under Section 80C is Rs 1 lakh a year.
Abhishek Ranjan Singh ARS Solutions email2ars@gmail.com www.arsolutions.co.in
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