80c deduction

Rajagopal K (Taxation Manager) (108 Points)

11 January 2013  

80C - LIC Annutity Plan, 10% of sum assured is only allowable deduction in respect of FY 2012-13 whereas 20% of sum assured has been allowed in the F.Y.2011-12.

Please clarify why the department has reduced from 20% to 10%