Dear CCI members, an assessee has taken a life cum personal accident insurance with LIC of India, on which the premium on life insurance is Rs.8000/- while on accident insurance is Rs.225/-. Can the assessee claim total premium of Rs.8,225/- u/s-80C? I haven't found anywhere about claiming of accident insurance premium but only mediclaim or life insurance premium (excluding late fees, if any). Please clear my confusion.
1 Replies
Tribhuvan Aditya Singh
(Student as well as Self-employed)
(3710 Points)
Replied 08 August 2014
though according to law only 8000 can be claimed, but i.t.dept wont mind if you claim whole of 8225 under 80c.
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