query for deduction u/s 80
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 June 2011
Respected Sir,
I want to know whether if life insurance policy or mediclaim premium is paid by cash then it is allowed or not .
also tata iag & other policy will come under lic premium of 80c or in 80c - others
0aty0
also for pension plan scheme of lic what is limit for deducation allowed
I want to know whether if life insurance policy or mediclaim premium is paid by cash then it is allowed or not .
also tata iag & other policy will come under lic premium of 80c or in 80c - others
0aty0
also for pension plan scheme of lic what is limit for deducation allowed
29 June 2011
There is no problem in paying insurance policy and mediclaim premium by an individual in cash as these are not business expenditure.
Premiums paid to Tata AIG etc will come under section 80C.
Premiums paid to Tata AIG etc will come under section 80C.
29 June 2011
Krishna Ji
Section 80D says, mode of payment of mediclaim premium should be 'other than in cash'. Pl comment.
Section 80D says, mode of payment of mediclaim premium should be 'other than in cash'. Pl comment.
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