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LIC - PAY BACK - 80 D

CA S Sundararajan (CAO) (536 Points)

22 February 2008  

Dear Sir,

 

Is there any  Medi cliam policy offered by LIC and get back after three year , if it is not explored during the policy period.

Suppose, If it is there, can assessee claim the annual premium paid u/s 80 D and what will be tax implication while he get refund after 3 years?

 


 3 Replies

O.D.SHARMA (DGM-F & A) (1734 Points)
Replied 22 February 2008

if one gets premium back ,He have to add it in other income& accordingly taxed.

pushpendra (Director- FinMAT Consultants)   (1698 Points)
Replied 22 February 2008

any life insurance co. or LIC Doesn't offer mediclaim policy which is eligible u/s 80 D. you can take rider for critical illness with your any life insurance policy but it will qualify for exemption u/s 80 C not u/s 80D.

CA S Sundararajan (CAO) (536 Points)
Replied 04 March 2008

Thank you so much for your resonse

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