Chartered Accountant
112 Points
Joined February 2012
As per Section 80C:
80C. (1) In computing the total income of an assessee, being an individual or a Hindu undivided family, there shall be deducted, in accordance with and subject to the provisions of this section, the whole of the amount paid or deposited in the previous year, being the aggregate of the sums referred to in sub-section (2), as does not exceed one lakh rupees.
(2) The sums referred to in sub-section (1) shall be any sums paid or deposited in the previous year by the assessee:
(i) to effect or to keep in force an insurance on the life of persons specified in sub-section (4);
Thus assessee cannot claim benefit on the payment of his insurance by the spouse.