Exemption in postal life ins

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This query is : Resolved

D. S. (Querist)

05 March 2014 Please advise in the following Case -

Husband is in Private Sector & Wife is a Govt Employee.
They purchase Yugam Suraksha Plan of Postal Life Insurance.
If the Premium for this Policy is paid partly/fully by Husband; Can exemption under Chapter VI?
[Major Criteria to purchase PLI is, either of spouse should be in govt service]

Please advise.

Nikhil Kaushik

Nikhil Kaushik (Expert)

05 March 2014 deduction shall be allowed as long as the conditions specified in section 80c

Message likes : 1 times

Rupesh Jain

Rupesh Jain (Expert)

10 March 2014 deduction allowed u/s 80C

Message likes : 1 times

D. S.

D. S. (Querist)

11 March 2014 Thanks.

This means, can we elaborate it in this way -
In insurance plan, which is designed to insure for both husband & wife (Jivan Sathi/Yugma Surksha etc), Exemption can be claimed by either of the spouse (if both are earning), who is paying the premium?

Thanks/Rgds

Rupesh Jain

Rupesh Jain (Expert)

18 March 2014 r/sir
it decided by you who(spouse) pay the premium and when you decide then that (spouse) pay the premium from starting to maturity it is beneficial for your future.
and claim deduction u/s 80C

thanks

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