80c deduction

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ankita (Querist)
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06 March 2012 Whether LIC plan Bima Bhachat ( Table No.175) single premium is considered as deduction U/S 80C or not.

CA Siddhartha Bhardwaj (Expert)
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07 March 2012 Yes, the same is eligible for deduction u/s 80C.

Mihir Doshi (Expert)
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07 March 2012 Yes, u/s 80C deduction is available, though it is single premium policy.

Guest

Guest (Expert)

07 March 2012 The deduction of premium is is restricted to 20% of sum assured in a year

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Guest (Expert)

07 March 2012 Pls follow the link

https://www.caclubindia.com/forum/details.asp?mod_id=71450&offset=1

Mihir Doshi (Expert)
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07 March 2012 Yes,
Deduction is restricted to 20% of sum assured....

Thanks Mr. Ashwin to add this clarification.

Thanks
Mihir Doshi

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