Section 80C Tax Deductions Quiz

The deduction u/s 80C is available to Individual Assessee and HUF Assessee. The conditions for availing this deduction include: Premium paid on insurance policy, the amount of premium eligible for deduction, and the percentage of the capital sum assured based on the policy issuance date.

For a policy issued on or after 1.4.2013 on the life of a person with disability u/s 80U, 15% of the capital sum assured is eligible for deduction.

For a policy issued before 1.4.2012, 20% of the capital sum assured is eligible for deduction.

<p>The non-cumulative deferred annuity plan can be taken on the life of an individual assessee, spouse, and any child of the individual to avail the deduction u/s 80C.</p> Signup and view all the answers

<p>The deduction u/s 80C for a non-cumulative deferred annuity plan is available to Individual Assessee and HUF Assessee.</p> Signup and view all the answers