Mr. Baskar a person with a disability referred to in Section 80U is employed in a bank. He paid ₹ 50,000 as a premium on the life insurance policy taken on himself and whose sum assured is ₹ 4 lakh. The amount of premium eligible for deduction under Section 80C would be:

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Question:Mr. Baskar a person with a disability referred to in Section 80U is employed in a bank. He paid ₹ 50,000 as a premium on the life insurance policy taken on himself and whose sum assured is ₹ 4 lakh. The amount of premium eligible for deduction under Section 80C would be:

1. ₹ 40,000 (10% of sum assured)

2. ₹ 50,000

3. Nil (since it exceeded 10%)

4.None of the above

Posted by R4R Team
  1. Mr. Baskar a person with a disability referred to in Section 80U is employed in a bank. He paid ₹ 50,000 as a premium on the life insurance policy taken on himself and whose sum assured is ₹ 4 lakh. The amount of premium eligible for deduction under Section 80C would be:
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