rebate on premium paid on surrender ploicy
This query is : Resolved
SATPAL SINGH
(Querist)
24 March 2009
i took Postal life insurance policy on mar,2003 and i suurender it on Nov, 2008, after 5 years and 9 months. my query is that can i avail tax rebate u/s 80C on premium paid from Apr, 2008 to nov, 2008 in this year?i.e Assessment year 2009-2010
Ravi Chandra Prakash
(Expert)
24 March 2009
If once the policy is surrendered means the amount which so desposited will be returned back subject to some deductions.In such an event the amount so paid as premium can not be claimed u/s 80C.
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