Single premium lic polciy
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 June 2015
Single Premium LIC Policy allowed in income tax deduction u/s 80 or not ?
thanks
thanks
12 June 2015
Yes it is eligible for deduction u/s 80C but premium limit is as follows:
Policy issued up to 31.3.2012 = 20% of sum assured.
Policy issued on or after 1.4.2012 = 10% of sum assured.
This is applicable for all policies.
Policy issued up to 31.3.2012 = 20% of sum assured.
Policy issued on or after 1.4.2012 = 10% of sum assured.
This is applicable for all policies.
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