SECTION 80C
This query is : Resolved
11 December 2009
WHETHER INCOME TAX BENEFIT U/S 80 C ON INVESTMENT IN LIC PLAN 191 MARKET PLUS IS AVAILABLE WHEN THERE IS ZERO SUM ASSURED ?
12 December 2009
Yes, benefit available u/s 80 C . It covers premium paid on any any Life Insurance plan ( subject to max 20% of sum assured ) . It means the premium paid to be qualified u/s 80 C should not exceed 20% of sum assured i.e it can always be within 20% of sum assured
rgds
CA AMitabh Gupta
Indore
ag_ind@rediffmail.com
rgds
CA AMitabh Gupta
Indore
ag_ind@rediffmail.com
14 December 2009
you are saying 20 % of sum assured, but when there is zero sum assured ?
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