Vasudhara has taken a life insurance policy of 7 4,00,000 on the life of married son on 9.1.2016. The annual premium of 7 45,000 was due on 28.3.2020. She paid the premium on 4th April 2020, through an account payee cheque. The amount of deduction u/s 80C for the P.Y. 2019-20 shall be:
A. 45,000
B. 40,000
C. Nil
D. 13,500
Answer:C
Vasudhara has taken a life insurance policy of 7 4,00,000 on the life of married son on 9.1.2016. The annual premium of 7 45,000 was due on 28.3.2020. She paid the premium on 4th April 2020, through an account payee cheque. The amount of deduction u/s 80C for the P.Y. 2019-20 shall be:
A. 45,000 B. 40,000 C. Nil D. 13,500