CA Day celebration 2024 Easy Office
LCI Learning

Deduction u/s 80c

This query is : Resolved 
Profile Image

Profile Image

(Querist)
19 July 2018 DEDUCTION WILL BE THERE , IF LIC PREMIUM IS LESS THAN 10% OF SUM ASSURED .....

IF INSTALLMENT OF LIC IS QUATERLY,,,THEN 10% WILL BE CLACULATED ON WHAT BASIS ???
MEANS YEARLY OR QUATERLY ???
Profile Image

RAJA P M

Profile Image

RAJA P M (Expert)
20 July 2018 The 10% calculation applicable when received premium after matured... You can claim LiC paid amount year wise from April to March payment receipt basis.
Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
14 October 2021 =No. No deduction will be there as it will be exempted u/s. 10(10D) of IT act.
=Total premium paid per year.
Upgrade to CAclubindia Pro. Subscribe Now!


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CA Day celebration 2024 with Tally CCI Pro

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links