Lic premium - deduction

Direct Taxation

Lic premium paid is personal expenses,why are we showing as deduction?

Shankari C

CA Inter

★ 12K+

29-Aug-22 09:43

482

Answers (2)

Its under 80C. Premium paid is allowed as a deduction for computing taxable income

CA Suraj Lakhotia

Admin

29-Aug-22 10:25

CA Suraj Lakhotia Admin

Its under 80C. Premium paid is allowed as a deduction for computing taxable income

ok sir

Thread Starter

Shankari C

CA Inter

★ 12K+

29-Aug-22 10:40