If any assessee is paying taxes on foreign income in India can he claim deduction for life insurance and health insurance paid in foreign country u/s 80 C and 80 D.
Thanks.
2 Replies
RAMAKRISHNAN R
(INCOME TAX OFFICER)
(1736 Points)
Replied 14 March 2019
in my opinion, he can bcoz no where the place of payment has been specified in the aforesaid sections
priyanka rao
(15 Points)
Replied 15 March 2019
as per sub-section 5 of sec 80D, insurance policy shall be:
a) in accordance with the scheme of General Insurance Corporation of India or
b) a scheme of any other insurer, but approved by IRDA (Insurance Regulatory and Development Authority of India)
so, necessary to check whether the policies taken in foreign country would satisfy either of these
a) in accordance with the scheme of General Insurance Corporation of India or
b) a scheme of any other insurer, but approved by IRDA (Insurance Regulatory and Development Authority of India)
so, necessary to check whether the policies taken in foreign country would satisfy either of these
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