Income tax query for insurance loan took with housing loan

247 views
User Avatar

team member
25 Points Posted on 22 June 2023

I am having a insurance which took along with housing loan.This can be claim in 80d. I have made some advance payment on this insurance loan..Can I claim the full principal component in 80 d?Please help

0 Reply Share Follow
On 22 June 2023 at 14:03 Report
Replies (2)
Quick Summary
This discussion clarifies whether premiums paid for an insurance loan taken alongside a housing loan can be claimed under Section 80D of the Income Tax Act. The response explains that Section 80D is exclusively for Mediclaim policies. For life insurance premiums, including the principal component of such loans, deductions may be possible under Section 80C, up to a limit of ₹150,000.

User Avatar

SEO Sai Gr. Hosp.
212444 Points Posted on 22 June 2023

No. Sec. 80D is for Mediclaim, not eligible to claim any other insurance premium.

Reply
On 22 June 2023 at 14:20
User Avatar

3 Points Posted on 20 July 2023

If it is life insurance premium,you can claim in 80C along with the principal component of housing loan upto a maximum amt of Rs 150000/-

Reply
On 20 July 2023 at 13:22

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Income tax on Australian Stipendiary Steward on 3
  2. INCOME TAX SECTION 92E
  3. Queries on Tax Invoice and GST
  4. Income Tax Auditor Tenure for Small Companies
  5. Sec 8 company sec 12ab reg
  6. AIS Password: How to Open Your AIS PDF?
  7. Interview Questions
  8. ITR Filing Last Date 2026
  9. Tds - filing Conso File for tax year 2026-27
  10. ITR-3 Filing For AY 2026-27 - Tips

More recent discussions | Post

Related Topics :

Loading
Follow