i have purchased a new policy from sbi under single life insurance policy plan for which sum assured is rs.3 lac and one time premium amount is rs. 1 lac.maturity period of the policy is 10 years.now my question is that what is the amount of deduction u/s 80c for this plan?
deduction u/s 80c of income tax act 1961 for single life insurance premium
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1 Answers
In case single-premium policy has been bought after April 2012 and sum assured on death is less than 10 times the annual/single premium paid, then there won't be any deduction available u/s 80C.
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