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Lic premium u/s 80c

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 February 2013 I have open a new Life Insurnace policy on Dec 2012 in my son name Sum assured is Rs.500000/- & premium is 100000/- whether I will get the whole amount of premium Rs.1 Lac exepmted or restricted to 10% i.e 50000/- will get the exemption. Pls guide.
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CA Parul Saxena online

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CA Parul Saxena online (Expert)
16 February 2013 you will get the deduction of premium amount i.e.50000/-
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CA AYUSH AGRAWAL

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CA AYUSH AGRAWAL (Expert)
16 February 2013 Agreed With Above reply.
But Will You Let me Know Which Policy is This ?
Sum Assured is 5 Lacs
and Premium Paying 1 Lacs.
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