Amendment of section 80C.

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..... deferred annuity, issued on or before the 31st day of March, 2012, shall be substituted; (ii) after sub-section (3), the following shall be inserted, namely: (3A) The provisions of sub-section (2) shall apply only to so much of any premium or other payment made on an insurance policy, other than a contract for a deferred annuity, issued on or after the 1st day of April, 2012 as is not in excess o .....

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..... of sub-section (3) of the aforesaid section 80C provide that sub-section (2) shall apply only to so much of any premium or other payment made on an insurance policy other than a contract for a deferred annuity as is not in excess of twenty per cent. of the actual capital sum assured. It is proposed to amend the aforesaid section so as to restrict the deduction for insurance policies issued on or a .....

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