LIC India Customer Care Number, Toll Free Number Customer Support, Complaint Email Id | licindia.in Office Address, Contact Us, Branch Address. Life Insurance Corporation of India (LIC) is the largest insurance company in India. It is the very popular and big Insurance company of India. It has crore Customerâs who has taken there Insurance Policies.
The Child Tax Credit allows you to claim a maximum $1,000 per qualified child. This is a non-refundable income tax credit (with the possibility for it to be refundable through the Additional Child Tax Credit), meaning that if your credit exceeds your income tax liability, then you wonât get a check for the difference.
A tax deduction reduces the income subject to tax. A tax credit is a dollar-for-dollar reduction of the tax. The tax credit for child and dependent care expenses allows taxpayers to claim a credit for expenses paid for the care of children under age 13 and for a disabled spouse or dependent. In order to claim the credit, taxpayers must meet numerous requirements for the taxpayer, the expenses, and the qualifying person.