I have paid a lump sum amount of Rs. 475000/- by way of DD, Rs. 1,00,000/- by way of LIC to my spouse during our mutual divorce petition.
Can i deduct this amt from my gross total income? If yes, what would be the paper to be attached with my income tax returns. Under what section and heading.
My total Gross Income is Rs. 8,00,000/- thereby having mediclaim Rs.8000/-, LIC premium Rs. 25000/-.
it is not deductile expenses, in the case of LIC payments u/s 80 c is deductible if it is paid for spouce. the payment is made to settle the relationship of spouce