Why the premium paid for the single premium life insurancy policy can not be claimed for tax exemption under section 80 C in India?
2006-07-27 23:10:55 · 3 answers · asked by gopikrishnareddyg 1 in Business & Finance ➔ Taxes ➔ India
Apurav is right. Sum assured amount should be atleast 5 times of the premium amount to claim deduction u/s 80C.
Deepak Bholusaria
Chartered Accountant
2006-07-29 00:38:10 · answer #1 · answered by DeepakB 3 · 0⤊ 0⤋
Who said this to you. You can definitely claim deduction for premium paid in single premium plans
Just it is that you shall not withdraw it before 3 years and Sum Assured / Rsik / Insurance shall b atleast 5 times of the annual premium..
Contact me at agarwalpurav@yahoo.co.in
2006-07-28 02:54:20 · answer #2 · answered by apurav a 3 · 0⤊ 0⤋
Agree. Obama knows how cost-shifting works. Currently, private health plans pick up the slack, when medicare/medicaid payments don't cover costs. They also pay for the free care, mandated by law, to uninsured and illegals via the emergency room. All of that creates the necessity for MORE cost-shifting by providers onto private plans. The first thing Obama did on health care was cut medicare last February. Now theres another proposed $500 billion medicare cut on the table......They are purposefully making the cost of private insurance higher, in order to increase the national appetite for Socialized healthcare. And RATIONING, to seniors, is already here!
2016-03-27 03:08:09 · answer #3 · answered by Debra 4 · 0⤊ 0⤋