deduction
This query is : Resolved
20 May 2010
If a wife had taken a lic policy for 17 yrs and paid the premium for 4 years. After that her policy premium is paid by her husband. So can we able to deduct this premium amount from the husbands income while filing the return?
Akbar Mirza
(Expert)
20 May 2010
As per sec 80C LIC peremiun paid by assessee on his own life as well as his spouse.
Hence here the premium paid by husband shall be eligible as deduction u/s 80C while filing of return.
Hence here the premium paid by husband shall be eligible as deduction u/s 80C while filing of return.
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