An assessee has paid life insurance premium of Rs. 25,000 during the previous year for a policy of Rs. 1,00,000. He shall
| A. | Not be allowed deduction u/s 80C |
| B. | Be allowed Deduction u/s 80C to the extent of 20% of the capital sum assured i.e.Rs. 20,000 |
| C. | Be allowed Deduction for the entire premium as per the provisions of section 80C |
| D. | None of the above |
Answer : B Explanation : Asna Ateeq said: (2:47am on Saturday 24th December 2016)
The qualifying amount of any premium on insurance polocy issued before 1.4.2012 shall not exceed 20% of the actual amount.The qualifying amount of any premium on insurance policy issued on or after 1.4.2012 shall not exceed 10% of the actual amount.
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Option: A Explanation : Explanation will come here. Explanation will come here. Explanation will come here. Explanation will come here. Explanation will come here. |
