U/s. 80c

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 February 2014 Dear Sir,

Whether assessee can claim deduction u/s.80C if he / she pays the premium of his / her spouse premium.

Thanks

Sukumar Shaw
09433061975

Sandeep Dharar

Sandeep Dharar (Expert)

24 February 2014 If u R saying abt LIC premium then can claim u/s- 80C.

Querist : Anonymous

Querist : Anonymous (Querist)

24 February 2014 I am asking any Life Insurance Co. Not only LIC, it may be Bharti Axa, Birla Life, SBI Life, ING Vysya, Tata AIG etc.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)

25 February 2014 Premium paid in respect of life insurance is eligible for deduction u/s 80C irrespective of the insurance company.

Sandeep Dharar

Sandeep Dharar (Expert)

26 February 2014 That was I saying, I m not saying abt the Company. I was asking abt if it is a medical premium or alike that.

If it is Life Insurance then it is eligible u/s 80c.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)

26 February 2014 1. Premium paid for LIFE INSURANCE is allowed as deduction u/s 80C.

2. Premium paid for mediclaim policy is allowed as deduction u/s 80D.

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