Under section 80c

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Querist : Anonymous

Querist : Anonymous (Querist)

09 March 2010 As per new budget for the f.year 2010-11 under section 80C exemption told that 120000/-, is there any limit for insurance and other savings individually or else we can show total lic premium of 120000/- under this exemption.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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09 March 2010 YOU CAN GET 80C DEDUCTION BY PAYING LIC PREMIUM OF RS.100000/- (SUBJECT TO 20% OF SUM ASSURED). RS20000/- IS FOR INVESTMENT IN INFRASTRUCTURE BOND.

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CA RATAN JHA

CA RATAN JHA (Expert)
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09 March 2010 still limit of sec. 80c is 100000.
new sec. inserter i.e. sec. 80ccf to avail benefit in investing infrastructure bonds.

infrastructure bonds are still not notified.

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CA Prashant Gupta

CA Prashant Gupta (Expert)
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09 March 2010 80C limit is still 100000/-. if you want only lic then for 100000/- premium sum assured should be minimum 500000/-
20000/- deduction is u/s 80CCF which is available only for purchasing infrastructure bonds. separate list for these bonds will be issued but till date no list.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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09 March 2010 Still Rs.100000/ only Rs.20000/- towards Infrastructure bonds

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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10 March 2010 The proposed section 80CCF provides for a deduction to an individual/HUF upto a limit of investment of Rs.20,000/-,over and above the existing limit of Rs.1,00,000/- under section 80CCE. The said investment has to be made in long term infrastructure bonds to be notified by the Central Government.

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