can we get income tax benefit on cash payment for LIC premium?
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Cash for LIC premium
Replies (4)
Yes, you can if the premium recipt is in your name and the policy is in your or your spouse or in your childs name.
Yes, Cash or cheque payment will not be a matter of issue in LIC premium income tax benefit.
YES........DEDUCTION IS ALLOWED.
CASH PAYMENT IN CASE OF MEDICAL INSURANCE IS NOT ALLOWED AS DEUCTION U/S 80 D.
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