U/s. 80c

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 February 2014 Dear Sir,

Whether assessee can claim deduction u/s.80C if he / she pays the premium of his / her spouse premium.

Thanks

Sukumar Shaw
09433061975

Sandeep Dharar

Sandeep Dharar (Expert)
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24 February 2014 If u R saying abt LIC premium then can claim u/s- 80C.

Querist : Anonymous

Querist : Anonymous (Querist)

24 February 2014 I am asking any Life Insurance Co. Not only LIC, it may be Bharti Axa, Birla Life, SBI Life, ING Vysya, Tata AIG etc.

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CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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25 February 2014 Premium paid in respect of life insurance is eligible for deduction u/s 80C irrespective of the insurance company.

Sandeep Dharar

Sandeep Dharar (Expert)
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26 February 2014 That was I saying, I m not saying abt the Company. I was asking abt if it is a medical premium or alike that.

If it is Life Insurance then it is eligible u/s 80c.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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26 February 2014 1. Premium paid for LIFE INSURANCE is allowed as deduction u/s 80C.

2. Premium paid for mediclaim policy is allowed as deduction u/s 80D.