I.Tax Deduction of Premium paid to LIC towards Gratuity
(Querist) 11 April 2008
This query is : Resolved
We have not created any Gratuity fund or trust for gratuity. If we simply pau the insurance premium for gratuity, can we get the deduction of premium paid for Income tax.
Please give your advice.
(Expert) 16 April 2008
Yes, you can avail under Section 80c of income tax 1962.
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