LIC - PAY BACK - 80 D

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CAO
318 Points Posted on 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?

 

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On 22 February 2008 at 08:07 Report
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DGM-F & A
1654 Points Posted on 22 February 2008
if one gets premium back ,He have to add it in other income& accordingly taxed.
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On 22 February 2008 at 11:04
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Director- FinMAT Consultants
1649 Points Posted on 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.
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On 22 February 2008 at 12:51
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CAO
318 Points Posted on 04 March 2008
Thank you so much for your resonse
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On 04 March 2008 at 14:23

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