Can we claim exemption on money back policy
This query is : Resolved
26 July 2013
sir,
if my dad hv taken money back policy amt to 50000 and pay 3221 yearly...is it exempted under income tax act
plz reply
if my dad hv taken money back policy amt to 50000 and pay 3221 yearly...is it exempted under income tax act
plz reply
Guest
Guest
(Expert)
26 July 2013
If the amount is in nature of life insurance premium then deduction u/s 80C can be claimed.
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