Life insurance cover for home loan comes under 80C ?

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Life insurance cover for home loan comes under 80C ?
Query (Issue) Started By: - venkat eswaran Dated:- 5-3-2014 Last Reply Date:- 5-3-2014 Income Tax
Got 1 Reply
Income Tax
Dear All, I .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... took a home loan from HDFC bank for Rs.1250000/- for that i have covered life insurance under HDFC Life cover for home loan protection plan and paid Total premium Rs.44600/- for 12 years along with ho .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... me loan. So total sum assured is Rs.1294600/- . Whether i can get IT benefit under SEC. 80C for this premium paid amount of Rs. 44600/-. it the one time premium paid and there is no return benefit. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Kindly give ur valuable feedback. Thanks. Venkat Reply By CA GOPALJI AGRAWAL: The Reply: To my view, it is deductible if it qualified the conditions of life insurance policy as the premium is less .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... than 10 percent of the sum assured.
Discussion Forum - Knowledge Sharing .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X