Deduction under chpt vi-a


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Querist : Anonymous

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Querist : Anonymous (Querist)
03 December 2012 1. Can amount paid by an individual to insurance company for 'Individual Personal Accident Policy' be claimed u/s 80-D?

2. Can amount paid for ITT training & GMCS program paid to ICAI be claimed as tution fees u/s 80-C?

03 December 2012 1. Insurer covered U.s 80D:
This deduction is available for medical claim policy which should be framed in this behalf by by GIC(General insurance Corporation) or by any other insurer but approved by IRDA(Insurance Regulatory Development authority)

Therefore, an Individual can not claim the premium paid on Person Accident policy but he is eligible to claim the deduction U/s 80C.

2. Amount paid to ITT training and GMCS program of ICAI not eligilble to claim deduction as Tution fees U/s 80C since these are not full-time education course of any of the persons specified in sub-section (4) of IT Act.


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Querist : Anonymous

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Querist : Anonymous (Querist)
03 December 2012 Thank You Sir!


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