If any assessee is paying taxes on foreign income in India can he claim deduction for life insurance and health insurance paid in foreign country u/s 80 C and 80 D.
Thanks.
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Lic and health insurance outside india
Replies (2)
in my opinion, he can bcoz no where the place of payment has been specified in the aforesaid sections
as per sub-section 5 of sec 80D, insurance policy shall be:
a) in accordance with the scheme of General Insurance Corporation of India or
b) a scheme of any other insurer, but approved by IRDA (Insurance Regulatory and Development Authority of India)
so, necessary to check whether the policies taken in foreign country would satisfy either of these
a) in accordance with the scheme of General Insurance Corporation of India or
b) a scheme of any other insurer, but approved by IRDA (Insurance Regulatory and Development Authority of India)
so, necessary to check whether the policies taken in foreign country would satisfy either of these
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