Hello All
As a salaried employee, I paid kotak and took life insurance policy of Rs60K and paid Rs 62175 (with tax) on 31.03.2016
Shall I take above for exemption while filing my income tax return as Rs 60000 or Rs 62175?
Please clarify?
Adv thanks....for your help dear friends
Cheers
Sri Balaji Subbu
Usually total amount is claimed
Dear Mr. Dhirajlal Rambhia
Not clarified till date, but usual practise
Yes, the total amount paid with tax but excluding any late fees or interest is taken.
Total amount should be ok
Thank you Ruchi.
Cheers
Balaji Subbu
CAclubindia
