20 December 2009
what is the meaning of endowment policy ? under which income tax section the premium paid towards endowment policy is exempt from tax ?
20 December 2009
Endowment policy is a long term policy the purpose of which is to accumulate handsome amount at the time of maturity by paying regular premium for the term selected.
Premium paid is exempt u/s 80C to the extent of Rs.1 Lac (including all other eligible exemptions).
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