FCA DISA Mcom CIFRS & LLB
9060 Points
Joined February 2009
both will be allowed as deduction :
Any sums paid or deposited in the previous year by the assessee —
As Life Insurance premium to effect or keep in force insurance on life of (a) self, spouse and any child in case of individual and (b) any member, in case of HUF. Insurance premium should not exceed 20% of the actual capital sum assured.