Jeevan Akshay-VII: Annuity Plan of LIC can be claimed as deduction under Section 80C for AY 2021-22 and onwards

In exercise of the powers conferred by clause (xii) of sub-section (2) of Section 80C of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the Jeevan Akshay-VII Plan of the Life Insurance Corporation of India, as filed by that Corporation with the Insurance Regulatory and Development Authority, as the annuity plan of the Life Insurance Corporation of India for the purposes of the said clause for the assessment year 2021-22 and subsequent years

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