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rental income (home insurance ) exemption

This query is : Resolved 
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(Querist)
20 November 2008 sir,

Home insurance is available any exemptions in income tax act.

Home insurance valuations for insurance premium for corporation value means (mentioned in property tax assessment )
or any other value

for example property tax paid for value of house is rs.500000/- but market rate is 1500000/- . the house insurance is taken which amount 500000 or 1500000

which claims i am elibible for home insurance for loss of home
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Ajith Kumar

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Ajith Kumar (Expert)
20 November 2008 Home insurance is not deductable expenditure.
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