Lic premium 80c exemptions

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 March 2016 Hi,
My client has an evidence that he paid insurance premium but on the header of the receipt of payment it is written as " Renewal Premium receipt "(late fee also charged) can this be claimed as an exemption under 80C of Income Tax Act, because all other clients have the header named " LIC Premium Receipt ".

Ganeshbabu K

Ganeshbabu K (Expert)
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14 March 2016 1)Only premium paid to LIC was eligible for exemption u/s 80C

2)Latefee or servicetax paid if any is not eligible to claim exemption 80C

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