about sbi life unit plus II pension?



I have invested in SBI life unit plus II pension .I had declared it under 80C ULIP for TDS . But when i got the letter from SBI it is under 80CCC .I called them and they are still saying its under ULIP.
If i declare this under pension fund 80CCC when filing income tax return will it cause any problem

4 Replies to “about sbi life unit plus II pension?”


  1. With effect from A.Y 1997-98, a new section namely 80 CCC has been enacted which provides that if an assessee being an individual pays or deposits any amount out of his income chargeable to tax to effect or keeps in force a contract for any annuity plan of Life Insurance Corporation of India for receiving pension from the fund referred to in section 10(23AAB) he shall be allowed a deduction of the amount equal to the deposit or Rs. 10,000 which ever is less.

    The amount of pension received in the hands of the contributor or the nominees shall be taxable. However, the commuted amount receivable on maturity of the scheme would be exempt.

    the maximum amount deductible u/s 80c is rs. 100000/- more ever, the aggregate amount of deduction u/s 80c, 80ccc, 80ccd cannot exeed rs. 100000/-

    I’think you do’nt face any problem for file your itr.


  2. By the way …..
    ( Sorry to have posted here though ….)
    May anybody expert or LIC agents / Development Office clarify the position at the “moment now” as to the tax deduction exemption may be available in :
    LIC – Health Plus
    under 80 C or 80 D ….?
    Repeat : the lastest clarificatin ….??






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