Deduction u/s 80C in respect of life insurance premium is restricted to __________ of capital sum assured in respect of policies issued on before 31st March, 2012 and __________ of capital sum assured in value of policie

CS Executive · Tax Laws · PYQS · June 2022
Deduction u/s 80C in respect of life insurance premium is restricted to __________ of capital sum assured in respect of policies issued on before 31st March, 2012 and __________ of capital sum assured in value of policies taken on or after 1st April, 2012.
(A) 10%, 15%
(B) 20%, 15%
(C) 20%, 10%
(D) 10%, 5%

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Income Tax Act, 1961

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