14 June 2017
I have purchased a Jeevan Akshay Plan VI from LIC by paying a single premium of Rs. 1,58,000/-. From Which I will get an annual annuity of Rs. 10,800/- each year from next year. Whether Single Premium of Rs.158000/- is allowable as deduction U/S.80C for AY 2017-18. Whether annual annuity of Rs.10,800/- will be taxable ?
CAclubindia
