07 August 2014
Respected Sir, an assessee has taken a life cum personal accident insurance with LIC of India, on which the premium on life insurance is Rs.8000/- while on accident insurance is Rs.225/-. Can the assessee claim total premium of Rs.8,225/- u/s-80C? I haven't found anywhere about claiming of accident insurance premium but only mediclaim or life insurance premium (excluding late fees, if any). Please clear my confusion.
CAclubindia
