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Life insurance

This query is : Resolved 
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(Querist)
09 December 2012 Dear sir,

A policy is running in my wife's name and premium is deducted(ecs
mode) from joint a/c in which I am the first holder . Who will get
tax benefit, me or my wife, pls clarify.

Regards,
Aman
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@VaibhavJ

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@VaibhavJ (Expert)
09 December 2012 Hi

Since its joint A/c technically both of them can claim deduction since it is joint A/c, the person claiming deduction has to prove by book entry or banking transaction that fund has contributed by them when asked by IT Dept.

Thanks//Vaibhav
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Sanket

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Sanket (Expert)
09 December 2012 Both Way is available.....
Either you or your wife can take deduction under 80c......
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Aman

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Aman (Querist)
09 December 2012 Sir,
since i m employed and have to submit proofs what documents will be attached.
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