GIS Duduction

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Accountant
127 Points Posted on 22 February 2020
Can I claim GIS Deduction in 80 c Under income tax ?
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On 22 February 2020 at 17:37 Report
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Quick Summary
This discussion clarifies whether Group Insurance Scheme (GIS) deductions can be claimed under Section 80C of the Income Tax Act. It confirms that GIS premiums are eligible for deduction if they are directly deducted from your salary or listed as a perquisite in your Form 16. This allows you to reduce your taxable income by claiming these deductions.

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C.A FINAL STUDENT AND QUALIFIED C.M.A
563 Points Posted on 22 February 2020

Group Insurance Schemes effecting the insurance on life are eligible U/s 80C.  

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On 22 February 2020 at 17:53
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17269 Points Posted on 23 February 2020
You can claim only if GIS premium is deducted from your salary or it's shown as perqusite in Form 16.
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On 23 February 2020 at 00:23
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Manger Accounts & Finance
363 Points Posted on 23 February 2020
You can claim
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On 23 February 2020 at 21:19

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