Suppose Mr. has paid premium of 25,000 for policy A taken on 30th June 2011 (sum assured 2,00,000) and 12,000 for policy B taken on 1st August 2013 (sum assured 1,00,000). Calculate the amount of deduction Mr. X can claim u/s 80C.

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..... ction Mr. X can claim u/s 80C. - Deduction u/s 80C Income Tax – Exemptions and Deductions - Income Tax - Manuals - FAQ - Dated:- 13-8-2015 - Chapter No. 06 - Deduction u/s 80C Suppose Mr. has pa .....

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..... In case of Policy B ceiling limit for premium paid = 1,00,000 x 10% = 10,000 Since premium paid is more than 10,000 (i.e. 12,000), only 10,000 qualifies for deduction. Also, the amount .....

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