Tax exemption

Dear Sir,

I am paying for the LIC premium for the past 3 years together now (about Rs85,000). For calculating tax for 2010-2011, can I claim the tax exemption for the entire amount (85,000) or can I only claim it for the current year (about 28,000)?

Thank you.

asked Feb 06 '11 at 13:47 by Vinay 1111

You can only get exemption on amount paid as premium in this financial year (Rs 28000)

answered Feb 06 '11 at 13:53 by Pankaj Batra 5.2k320


only on Rs.28000/ paid in this fin year.

answered Feb 12 '11 at 12:50 by Pankaj Sinha 16112


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Asked: Feb 06 '11 at 13:47

Seen: 2,427 times

Last updated: Feb 12 '11 at 12:50