An assessee has paid life insurance premium of Rs.25,000 during the previous year for a policy of Rs.1,00,000 taken on 1.4.2015. He shall:
1
Not be allowed deduction u/s 80 C
2
Be allowed deduction of Rs.20,000 u/s 80 C
3
Be allowed deduction of Rs.25,000 under section 80 C
4
Be allowed deduction of Rs.10,000 u/s 80 C