Rural postal life insurance

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 March 2013 Sir,

I have taken one Rural Postal Life Insurance Policy and paid a premium of Rs. 31250/- . I want to know the above premium is exempted from Income Tax undr section 80 C. Kinldy let us know the same and ny notification in this regard. As my company is not allowing the same for tax rebate

Thanking you

A. Jayaprakas

CA Suraj Lakhotia

CA Suraj Lakhotia (Expert)

01 March 2013 The premium paid on effecting a Life Insurance Policy would be allowed as deduction u/s 80C.

To my knowledge,there is nothing which could prevent you from claiming the said deduction on Polstal Life Insurance Policy.

@VaibhavJ

@VaibhavJ (Expert)

01 March 2013 Hi,

Yes Agree with Suraj..

S/80C states as....to effect or to keep in force an insurance on the life of persons...

so in now way it states that it doesnt cover Ins. of rural bank. So it is eligible!!

Thanks!!

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