Deduction u/s -80 D when premium paid by co.

can i avail the deduction u/s -80d when premium paid by company as a group ploicy and amount deduct in my salary but no contribution made by the company
Replies (3)

As per the Income Tax 1956, any contribution made by employee for Group Insurance Scheme can be taken as a duduction under only section 80C, the reason why income tax allowed deduction in 80C is, Since most of the group insurance scheme will be payable only on the death of the employee, so according to income tax act 1956, the group insurance has  considered as a life insurance.if the same is contributed by employer the same can be exempted under section 36(1).

 

Mr.Sameer Jain

When premium paid by company and is deducted in salary then i think you can claim the premium paid as deduction......

Mr. Sameer Jain u can claim deduction in 80D . As nothing paid by employer .

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