Under sec 80c income tax benefit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 April 2013
I HAVE A POLICY OF RS 60000 AND IT SUM ASSURED IS 5 LAC SO 80C TAX BENEFIT WILL BE ON S.A OR POLICY AMOUNT OF RS 60000
PLZ HELP ME,
CAN ANYONE CLARIFY MY DOUBT
WAITING FOR YOUR KEEN AND POSITIVE REPLY AS SOON AS POSSIBLE
PLZ HELP ME,
CAN ANYONE CLARIFY MY DOUBT
WAITING FOR YOUR KEEN AND POSITIVE REPLY AS SOON AS POSSIBLE
02 April 2013
Benefit can be availed upto 10% of sum assured or policy premium payment which ever is lower.
In your case benefit will be Rs.50000
In your case benefit will be Rs.50000
02 April 2013
Yes, agreed with the above expert. And assuming your question is related to F.Y 2012-13(A.Y 2013-14). In case your question related to before to the F.Y 2012-13 then replace 10% with 20%. I.e u/s80C benefit for LIC premium can avail upto 20% of sum assured or premimum payment which ever is lower.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Regis.
- Inventory of finished goods
- Disallowance of Section 43B(h) to sez units
- Confusion around Form 26QB fields
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Sale of property furniture sale
- RCM INVOICING FROM NOV-2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Applicability of Ind As to associate of associate
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
