_ap_ufes{"success":true,"siteUrl":"www.investmentyogi.com/w","urls":{"Home":"http://www.investmentyogi.com","Category":"http://www.investmentyogi.com/category/alternative-investment/","Archive":"http://www.investmentyogi.com/2014/09/","Post":"http://www.investmentyogi.com/transferred-amount-to-wrong-account/","Page":"http://www.investmentyogi.com/nri/","Nav_menu_item":"http://www.investmentyogi.com/trending/","Forum":"http://www.investmentyogi.com/forums/forum/iy-test/","Wpcf7_contact_form":"http://www.investmentyogi.com/?post_type=wpcf7_contact_form&p=5591","Flare":"http://www.investmentyogi.com/flare/email/"}}_ap_ufee

Yogi Zone

Useful articles for your finance management by our team of experts

impact of dtc on life insurance

0 Flares 0 Flares ×

Question:Right now the single premium paid under Jeevan Akshay Scheme of LIC which entitles you to receive annuity for life is exempt from Tax up to Rs 1 Lac under Sec 80C.Will the same exemption continue from 1/4/2012 when the DTC comes into effect?

    
Answer:Hello Murthy, the new DTC will be applicable only to Life Insurance policies taken after 1/04/2012. All the existing Life insurance policies continue to enjoy the tax benefits up to 1 Lac till the completion of the policy term. So, you will continue to reap the tax benefits u/s 80C up to 1 Lac
      

Cheers,
The Yogi

0 Flares Facebook 0 Google+ 0 Twitter 0 Email -- 0 Flares ×