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(Querist)
17 April 2009 I have made single payment of l.i.c of rs. 100000.00

Will that be eligible for deduction u/s 80c

Somebody said me that single payments l.i.c are not allowable as deductions
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Shyam Lal Naik

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Shyam Lal Naik (Expert)
17 April 2009 The premium amount or 20% of amount of sum assured, which ever is lower, is the eligible amount for deduction u/s. 80C.
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
17 April 2009 shyam is correct
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