Poonawalla fincorps
Poonawalla fincorps

Lic deduction

This query is : Resolved 
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(Querist)
05 October 2015 Sir, I have paid 12000 as LIC premium in previous year of 2014-15, My policy value is 3,00,000 /-. Then how much amount will avail for deduction u/s 80c. for Assessment Year 2015-16.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
05 October 2015 Please mention the Sum Assured...
Deduction available will be lower of the two:

1) Actual Premium paid.

2) 10% of Sum Assured.
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Dipankar Chakraborty

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Dipankar Chakraborty (Querist)
05 October 2015 sumassured means? Which amount I will get after maturarity including bonous
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Dipankar Chakraborty

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Dipankar Chakraborty (Querist)
05 October 2015 I have taken policy after 2012
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
05 October 2015 See the policy document, Sum Assured will be mentioned there.

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