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June 2010

Clarification regarding eligibility of deduction u/s.80C of the Act for investment under Jeevan Akshay-VI — Notification No. 34/2010, dated 19-5-2010.

By Pinky Shah, Sonalee Godbole, Gaurang Gandhi, Tarun Ghia, Brijesh Cholera, Pratik Mehta | Chartered Accountants
Sejal Vasa | Company Secretary
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Part A : Direct Taxes

35 Clarification regarding eligibility of deduction u/s.80C of the Act for investment under Jeevan Akshay-VI — Notification No. 34/2010, dated 19-5-2010.

Jeevan Akshay-VI of the Life Insurance Corporation of India has been approved as an annuity plan eligible for deduction under clause (xii) of Ss.(2) of S. 80C of the Act. This clarification would be applicable for investment made under this scheme for A.Y. 2008-09 and onwards.

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