I have a query on LIC money plus ulip policy
Our client on 26/12/2006 had invested in Lic money plus Ulip policy (fund type is growth). whose date of last premium to be paid is on 26/12/2015 . premium amount for each year is 10000.rs
On 24/11/2010 they have surrendered the policy for rs.33935
For the past 3 installments they had not calimed any deductions for premium paid for each year
So I want to know whether we can claim 30000.rs as deduction under sec 80c and
I also want to know the treatment for 3935.rs profit whether it has to be shown as IFOS under
Others head or is there any other treatment
CAclubindia
