Central Govt. specifies ‘Jeevan Akshay-VII Plan’ of LIC as annuity plan for purpose of Sec. 80C deduction

The Central Government has specified the Jeevan Akshay-VII Plan of the Life Insurance Corporation of India, as the annuity plan of the Life Insurance Corporation of India for the purpose of section 80C(2)(xii). Section 80C(2)(xii) allows deduction of the sum deposited in the annuity plans of the Life Insurance Corporation or any other insurer as the Central Government may specify.The Central Government has specified the Jeevan Akshay-VII Plan of the Life Insurance Corporation of India, as the annuity plan of the Life Insurance Corporation of India for the purpose of section 80C(2)(xii). Section 80C(2)(xii) allows deduction of the sum deposited in the annuity plans of the Life Insurance Corporation or any other insurer as the Central Government may specify.taxmann.com Latest Statutory HappeningsRead More

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