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Life insurance premium

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(Querist)
29 March 2016 My question is that if we pay life insurance premium in lump sum at the beginning of year & whether we claim or deferred the claim u/s 80C full amount in the year in which it is paid or claim proportionately over the life of LIC Policy
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
29 March 2016 You can claim deduction u/s 80C only on payment basis. You can claim Premium deduction subject to maximum of 10% of Sum Assured value.

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