This Plan has following
Equity94.46%
| Descripttion | Percent of Share (%) |
|---|---|
| Equity | 94.46 |
| Debt | 0.00 |
| Others | 5.54 |
1.Whether I can claim its premium under 80C deduction ? or 100 % required in equity for claiming?
2.When info is called u/s 133(6) whether we require to submit 80 C deduction claimed products document in support with ITR?
SBI Magnum Multiplier fund is not under ELSS catagory, hence not eligible for 80C deductions.
Thank u sir
1.Whether ULIP of SBI in attached File allowed as deduction ?
2.Whether 20% of limit on sum assured applicable ?
Money invested in ULIP can be claimed as a deduction under section 80C (life insurance) or 80CCC (pension).
A maximum of Rs 1,50,000 is allowed under section 80C/ 80CCC.
Deduction is available on life insurance ULIPS under Section 80C, up to 10% of the sum assured or annual premium whichever is lower subject to a ceiling of Rs. 1,50,000.
life-insurance/companies/sbi/unit-plus-super
N.B. Sum deducted from salary payable to Government servant for securing deferred annuity or making provision for his wife/children [qualifying amount limited to 20% of salary]
CAclubindia
