What is a contract of deffered annuity?

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1 Points Posted on 25 July 2020
can we claim ded us 80C for premium paid on such annuity?
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On 25 July 2020 at 12:23 Report
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Quick Summary
A deferred annuity is a type of insurance contract where payments are made over time. You can generally claim tax deductions under Section 80C of the Income Tax Act for premiums paid towards such annuities. However, this is only applicable if the contract does not allow for a cash payout option instead of the annuity payments.

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Tax and Business Consultant
11616 Points Posted on 25 July 2020
Yes, we can claim deduction u/s 80C for premium paid for deffered annuity, Provided that such contract does not contain a provision for the exercise by the insured of an option to receive a cash payment in lieu of the payment of the annuity.
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On 25 July 2020 at 12:38
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1102 Points Posted on 25 July 2020
Yes, you can claim deduction u/s 80C
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On 25 July 2020 at 14:11
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Student
448 Points Posted on 26 July 2020
Section 80C : Deduction in respect of
Life Insurance Premium,
Deferred Annuity,
Contribution to PF,
Subscripttion fo certain Equity Shares or Debentures etc.

Yes, you are eligible for claiming deduction under section 80C.
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On 26 July 2020 at 09:47

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