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of <h1>Unit Linked Insurance Plan (ULIP) by LIC Mutual Fund eligible for tax benefits under Section 80C(2)(xi) for 2006-07 onwards.</h1> Section 80C(2)(xi) of the Income-tax Act, 1961 identifies the Unit Linked Insurance Plan (ULIP) of the Life Insurance Corporation (LIC) Mutual Fund, formerly known as Dhanraksha-1989, as eligible for tax benefits for the assessment year 2006-07 and subsequent years. This specification is made under Notification No. 224/2005, dated November 3, 2005, by the Central Government, exercising its powers under the Act.
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