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Deduction of sbi life insurance

This query is : Open 
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(Querist)
08 January 2018 Hello
I paid SBI Life Insurance Premium 3000 Per quarter . But Insurance company Offer if u pay rs 19255 you will get rs 21000 within one month ... so how it will effect in income tax retrun and on 21000 i will pay full tax or 21000-19255=1745 on tax ...and 21000 will added to my capital full exempt of rs 21000 form income tax
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RAJA P M

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RAJA P M (Expert)
08 January 2018 No.... Which amounts you get receipt of LIP that only you can claim deduction...
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