sec 80c -Lic premium

[syam sundar]

Sir,

lic eligible for deduction premium amount paid or Sum assured amount. please clarify the same

Thanks

AI Summary

LIC Premium Amount Deductible Under Section 80C, Not Sum Assured Amount A query was raised regarding whether the LIC premium amount or the sum assured amount is eligible for deduction under Section 80C of the Income Tax Act. The response clarified that only the LIC premium amount is deductible, not the sum assured amount.