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Deduction u/s 80 c

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(Querist)
06 August 2014 i invested rs.14000/- in LIC one time policy , will i get deduction u/s 80C . Note- sum assured is Rs.20000/-
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
06 August 2014 no. you wont get the deduction.......
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
06 August 2014 You can claim deduction subject to maximum of 10% of sum assured. So in your case you can claim Rs 2000 as deduction u/s 80C.
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Rupesh Jain

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Rupesh Jain (Expert)
06 August 2014 you can claim in which you make payment for LIP and it is not more than 10% of sum assured.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
06 August 2014 agreed with sanjay bhai's reply upto 10% of capital sum assured u can get the deduction
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
06 August 2014 i stand corrected on my earlier advice. please follow as suggested by Sanjay.

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