Eligibililty for exempt life insurance policies u.s.10(10d)

Valerian Dsouza (Manager Audit & Taxation)   (413 Points)

19 March 2012  

Eligibility conditions for exempt life insurance policies  under the existing provisions contained in section 10 (10D) and   80C  of Income Tax (premium payable per annum shall not exceed 20% of sum assured ) would prevail for policies taken before 31.03.2012, am I right ?