Deduction 80C
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 February 2011
Whether LIC Market Plus scheme eligible for deduction U/S. 80C of I.T.Act,1961?
25 February 2011
Market plus policy has an option to choose life cover . If such policy is subscribed, benefit u/s 80C can be claimed.
25 February 2011
LIC Market Plus is not a insurance policy but it is a Pension plan(deferred annuity plan), though you can also opt for insurance near it by paying mortality charges. It is not mandatory to have insurance also surrounded by a deferred annuity plan(see definition "any insurance policy other than a contract for a deferred annuity shall be eligible. "), so condition of Insurance policy is not applicable contained by Pension plan
Source: http://www.insurancefreefaq.com/insurance/7275-insurancefreefaq.html
Source: http://www.insurancefreefaq.com/insurance/7275-insurancefreefaq.html
Message likes :
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25 February 2011
Sir
I referred lic website(market plus policy) and expressed my observation as above, though there is no specific yes / No as far as 80C deduction is concerned.
Any way ,thank you for correcting me.
I referred lic website(market plus policy) and expressed my observation as above, though there is no specific yes / No as far as 80C deduction is concerned.
Any way ,thank you for correcting me.
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