The Assessee has taken the housing loan from ICICI Bank alongwoth ICICI Home Loan Insurance plan "SECURE MIND" from ICICI Lombard.
Afterwards the assessee got disability and Insurance Company (ICICI Loambard) paid off the full balancing Loan Amount.
Now whether the assessee can claim deduction u/s. 80C & 24b for the balancing principal loan amount & interest thereon paid by the insurance company?
No, Assessee can not calim it, since it has not been directly paid by Assessee.
Forget 80C deduction, you might be liable to tax as insurance money is benefiting you...
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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