Poonawalla fincorps
Poonawalla fincorps

Lic premium 80c

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 June 2012 i have invested rs. 28000 in lic single premium? how much i can claim it under section 80C?
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CA CS Amit S. Kedia

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CA CS Amit S. Kedia (Expert)
26 June 2012 Total amount of Rs. 28000 is available for deduction on th following 2 conditions-
1. it should not be more than 20% of the Sum Assured
2. Total deduction under section 80C, 80CCC, 80CCD should not exceed Rs. 1 lakhs.

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