Asked in Jobs & Careers at 1:00 PM on November 05, 2009
Tags: lic, deduct, amount, employee, providend, fund, gratuity, pension
Everything is possible.
Answered by Govindarajan , an ibibo Master, at 5:26 PM on November 06, 2009
no it cant
Answered by sunnychawla9 , an ibibo Citizen, at 2:02 PM on November 05, 2009
,000. This amount is deducted from your taxable income.Sec 80 DD: This section covers expenses on medical treatment of a dependant who is a person with disability. The maximum amount allowed is Rs 50,000 or Rs 75 60,000 if the person is above the age of 65.Sec 80 E: This covers payment of interest on loan taken for higher studies. The deduction is available only for the interest amount.Sec 80G: This covers
salary.In this case the employer directly pays the deducted premium to LIC. The Salary Saving Scheme is ideal for any institution or establishment subject to specified terms and conditions commercial loan.Tax Relief:Life Insurance is the best way to enjoy tax deductions on income tax and wealth tax. This is available for amounts paid by way of premium for life insurance subject to income tax
LIC on behalf of POLICY.with good wishes for you .............................. ....................Sanjay...see when u gonna surrender your policy then they will deduct 10 as a whole money and rest they will give u back , the reason they are deducting very less amount is your policy is 5 years old.......Dear, If you surrender your money back policy before maurity, youll get only 30 of paid premium minus pay
. The amount of interest reinvested will satisfy the test of having been paid out of income chargeable to tax to get the National Savings Certificate and so will be entitled to deduction under section 80C. v Rs. 1,00,000 in any one or more of the specified instruments. Amount invested in these instruments would be allowed as deduction irrespective of the fact whether or not such investment is made out
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