05 November 2010
according 80c deduction is provide once the life time of the premium or every year. e.g. i have sum assure of 100000 in lic so that the 20% is on the sum assure is provide every year.
06 November 2010
80C deductions for premium are available as deduction only in the year in which you pay the premium, subject to a maximum of 1,00,000 per year.
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