Can we claim life insurance premiun including service tax portion.
1.Can we claim all life insurance premium as 80C deduction/or is there any specific criteria for Insurance service provider-Say can we claim deduction of insurance premium of HDFC life.
Whether a insurance is eligible for 80c deduction is shown in Invoice/not
Eg:
Sum assured :4,06,091,Min death benefit is Rs.10 lacs & Annualised premium is Rs.1 lacs.
Premium paid was Rs.1,03,000 including Taxes.
Can an individual avail Rs.1,03,000 deduction for FY 15-16,premium is 10% more than sum assured but min death benefit is Rs.10 lacs,which to be taken for max insurance deduction computation.
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