Sir/Madam,
If payment or Premium in respect of Life insurance policy is made through Husband's Bank account and total premium in F.Y is Rs.210000 so He can claim deduction upto 150000 in his return.
Then whether his wife can claim deduction of excess of 150000 i.e Rs.60000 premium in her ITR?
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Deduction u/s 80C
Replies (2)
If that bank a/c is a joint account of husband and wife, in that case it may be claimed in her return. But if the husband is the single holder then she should not claim this deduction.
deduction under 80 c is only upto 150000
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